bears remain in control while the 6 sector Spyders accounting
for 86% of the capitalization weighted S&P 500 index price action remain below their 100-day sma
updated for the Friday, April 6th close:
XLK - 27% - below the 100 dsma
XLF - 15% - below the 100 dsma
XLV - 14% - below the 100 dsma, below 200 dsma
XLY - 13% - below the 100 dsma
XLI - 10% - below the 100 dsma
XLP - 7% - below the 100 dsma, below 200 dsma
time will tell if this condition changes for the controlling
top 6 symbols in the S&P 500 index
* at this moment, I give more than 70% odds that future price bounces by these symbols
and by SPY will fail to hold for a lengthy number of days
** five sector Spyders and SPX / SPY remain on a daily 35,20,10 PMO sell signal for numerous consecutive days AND below the PMO's zero line
( XLP PMO resides below its zero line, and recently advanced above its signal line )
