CHARTS_CCI_SYSTEM

[rimshot]

/ES 2666.25 & 2672.25 & 2675.00 & 2680.50 (April 13 ) = the four April highs
which need to be surpassed to print a new April 2018 /ES futures high
( using all trading hours for the /ES emini )

2607.50 = this week's /ES low, achieved Sunday evening

the SPY 10-week ema or slightly above has been the point of reversal for the
SPY highs of the prior 2 weeks and this week ...

the bulls need several daily closes above the 10-week ema and 50-day ema

* SPY barely failed to surpass its 50-day ema at
this week's 267.54 high ...
ditto for SPX at 2680.26 Friday's high

the weighting for sector Spyders in the index, as of April 13th:

XLK - 27% - represents 27% of the S&P 500 daily price action
XLF - 15%
XLV - 14%
XLY - 13%
XLI - 10%
XLP - 8%
XLE - 6%
XLU - 3%
XLB - 3%
XLRE - 3%

total is 102% because of rounding

I will highlight four important bullish observations
about the daily NYSE common stocks only
Advance-Decline chart shown below

1. the Advance-Decline line now resides much closer
to its two April highs than to its April low

2. the A-D line's April pullback low held at the center line
of its 50,2 BB which is evident in the %b .50 line

3. the A-D line's 5% trend and 10% trend are in a bullish
position to each other, and have been for 2018 except briefly
at March end and early April
( the 39 and 19-day ema's )
...bulls want to see the distance between the two ema's widen

4. looking to the bottom of this chart, the under performance
of the S&P 500 index vs. the NYSE Composite index is attempting to bottom in April,
and the ratio is now briefly rising off its 9-week low achieved in April



chart #2 - in 3 of the 4 indices, the daily cumulative total
for the internal indicator has crossed back above
the 10-day ema, which is a bullish clue
while it continues:



chart #3 - revised SPX daily closes chart

* with selected upper and lower price horizontals
for evaluating future daily closes

2690.16 is an important price level in the late 2017 to
April 2018 period, and the bulls want to see daily
closes above this level