AI
Tuesday, April 17, 2018 12:20:18 PM
2685.94 = SPX 50-day sma, as of Tuesday
2686 to 2690 horizontal = the must hold above price zone
for the bullish case, going forward
SPX 120-min chart, with unfilled gap above marked in pink
RSP:SPY ratio is now matching the April low, so participation
in the current price advance by the majority of the 500
component stocks in the weighted S&P 500 index is at its
most narrow level for April 2018 ... the immediately prior context for this ratio is that the very largest percentage
weighted components in the index were nearly all crushed
during the entirety of March 2018 ...
that does not change the fact it is optimal for the bulls
to have the broadest participation by the majority 500 stocks
when price advances
2686 to 2690 horizontal = the must hold above price zone
for the bullish case, going forward
SPX 120-min chart, with unfilled gap above marked in pink
RSP:SPY ratio is now matching the April low, so participation
in the current price advance by the majority of the 500
component stocks in the weighted S&P 500 index is at its
most narrow level for April 2018 ... the immediately prior context for this ratio is that the very largest percentage
weighted components in the index were nearly all crushed
during the entirety of March 2018 ...
that does not change the fact it is optimal for the bulls
to have the broadest participation by the majority 500 stocks
when price advances
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