trade timing signals - using Advance-Decline line tools

[rimshot]

$SPX and $NDX cumulative net Advance-Decline lines printed new record highs today Friday July 17

* commonly is a bullish condition over the intermediate term for the future index price action

[rimshot]

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

16-months of daily $NYADV in histogram format -

https://stockcharts.com/c-sc/sc?s=%24NYADV&p=D&yr=1&mn=4&dy=0&i=p09228435053&a=760612625&r=1590534237667

WSJ update for Friday, July 17, 2020 --

NYSE --- Latest Close --- Previous Close --- Week Ago

Issues traded 3,056 3,050 3,059
Advances 1,629 1,356 2,291
Declines 1,336 1,599 702
Unchanged 91 95 66
New highs 81 58 74
New lows 1 6 8
Adv. volume* 389,422,216 291,704,184 718,706,767
Decl. volume* 468,182,756 470,777,503 151,489,041
Total volume* 868,847,637 772,800,350 875,784,063
Closing Arms (TRIN)† 1.66 1.38 0.66
Block trades* 5,440 5,003 5,602
Adv. volume 1,677,114,470 1,499,052,955 3,747,001,320
Decl. volume 2,288,785,503 2,446,310,899 761,731,879
Total volume 4,016,039,558 3,994,458,894 4,549,509,985

[rimshot]

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

16-months of daily $NYADV in histogram format -

https://stockcharts.com/c-sc/sc?s=%24NYADV&p=D&yr=1&mn=4&dy=0&i=p09228435053&a=760612625&r=1590534237667

WSJ update for Thursday, July 16, 2020 --

NYSE --- Latest Close --- Previous Close --- Week Ago

Issues traded 3,050 3,064 3,052
Advances 1,356 2,536 787
Declines 1,599 466 2,195
Unchanged 95 62 70
New highs 58 99 85
New lows 6 4 16
Adv. volume* 291,704,184 823,083,159 221,309,038
Decl. volume* 470,777,503 121,110,564 748,011,059
Total volume* 772,800,350 950,756,231 971,990,935
Closing Arms (TRIN)† 1.38 0.78 1.01
Block trades* 5,003 5,468 5,780
Adv. volume 1,499,052,955 4,084,254,992 1,276,195,461
Decl. volume 2,446,310,899 587,528,622 3,584,310,831
Total volume 3,994,458,894 4,703,016,412 4,871,262,965

[rimshot]

S&P 500 cumulative net Advance-Decline line printed a new record high today Wednesday July 15, 2020 by a small margin over the prior record high

http://stockcharts.com/c-sc/sc?s=%24SPX&p=D&yr=0&mn=10&dy=20&i=p39194776096&a=589367469&r=1586708460313

[rimshot]

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

16-months of daily $NYADV in histogram format -

https://stockcharts.com/c-sc/sc?s=%24NYADV&p=D&yr=1&mn=4&dy=0&i=p09228435053&a=760612625&r=1590534237667

WSJ update for Wednesday, July 15, 2020 --

NYSE --- Latest Close --- Previous Close --- Week Ago

Issues traded 3,064 3,052 3,066
Advances 2,536 1,949 1,746
Declines 466 1,040 1,222
Unchanged 62 63 98
New highs 99 27 79
New lows 4 12 11
Adv. volume* 823,083,159 683,319,721 613,576,888
Decl. volume* 121,110,564 218,043,972 388,882,219
Total volume* 950,756,231 908,494,921 1,016,932,719
Closing Arms (TRIN)† 0.78 0.69 0.93
Block trades* 5,468 5,425 6,063
Adv. volume 4,084,254,992 3,266,299,114 2,956,547,343
Decl. volume 587,528,622 1,202,097,100 1,925,040,867
Total volume 4,703,016,412 4,511,947,590 4,959,194,680

[rimshot]

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

16-months of daily $NYADV in histogram format -

https://stockcharts.com/c-sc/sc?s=%24NYADV&p=D&yr=1&mn=4&dy=0&i=p09228435053&a=760612625&r=1590534237667

WSJ update for Tuesday, July 14, 2020 --

NYSE --- Latest Close --- Previous Close --- Week Ago

Issues traded 3,052 3,065 3,052
Advances 1,949 1,093 710
Declines 1,040 1,899 2,281
Unchanged 63 73 61
New highs 27 119 55
New lows 12 6 5
Adv. volume* 683,319,721 348,996,243 265,877,216
Decl. volume* 218,043,972 650,942,506 690,824,768
Total volume* 908,494,921 1,007,927,668 961,149,996
Closing Arms (TRIN)† 0.69 1.22 0.66
Block trades* 5,425 5,899 6,215
Adv. volume 3,266,299,114 1,562,745,912 1,463,870,893
Decl. volume 1,202,097,100 3,324,828,861 3,115,623,190
Total volume 4,511,947,590 4,922,830,269 4,599,673,369

[rimshot]

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

16-months of daily $NYADV in histogram format -

https://stockcharts.com/c-sc/sc?s=%24NYADV&p=D&yr=1&mn=4&dy=0&i=p09228435053&a=760612625&r=1590534237667

WSJ update for Monday, July 13, 2020 --

NYSE --- Latest Close --- Previous Close --- Week Ago

Issues traded 3,065 3,059 3,063
Advances 1,093 2,291 2,085
Declines 1,899 702 915
Unchanged 73 66 63
New highs 119 74 96
New lows 6 8 3
Adv. volume* 348,996,243 718,706,767 834,443,882
Decl. volume* 650,942,506 151,489,041 205,742,025
Total volume* 1,007,927,668 875,784,063 1,056,006,319
Closing Arms (TRIN)† 1.22 0.66 0.64
Block trades* 5,899 5,602 6,189
Adv. volume 1,562,745,912 3,747,001,320 3,690,488,662
Decl. volume 3,324,828,861 761,731,879 1,038,368,148
Total volume 4,922,830,269 4,549,509,985 4,796,076,404

[rimshot]

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

16-months of daily $NYADV in histogram format -

https://stockcharts.com/c-sc/sc?s=%24NYADV&p=D&yr=1&mn=4&dy=0&i=p09228435053&a=760612625&r=1590534237667

WSJ update for Tuesday, June 16, 2020 --

NYSE --- Latest Close --- Previous Close --- Week Ago

Issues traded 3,041 3,029 3,030
Advances 2,466 1,937 618
Declines 513 1,013 2,350
Unchanged 62 79 62
New highs 44 27 36
New lows 1 6 3
Adv. volume* 1,077,306,554 805,084,687 123,646,637
Decl. volume* 184,797,981 396,103,489 1,022,786,409
Total volume* 1,268,253,644 1,222,250,083 1,152,434,946
Closing Arms (TRIN)† 0.76 1.06 2.03
Block trades* 6,850 6,481 6,955
Adv. volume 4,976,586,287 3,661,631,957 730,541,041
Decl. volume 785,508,109 2,026,699,689 5,649,760,557
Total volume 5,796,247,493 5,794,343,267 6,405,085,344

[rimshot]

the cumulative net A-D lines for every available
US index remain in a bullish chart configuration
with the following chart conditions present as
of Monday June 15, 2020 close -

1. all A-D lines reside above the 19-day EMA, which is the fastest
and most sensitive moving average of importance to interpreting
the chart location of any Advance-Decline line

2. A-D lines' 19-day EMA vs. 39-day EMA vs. 200-day EMA all possess a bullish relationship crossover chart location

[rimshot]

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

16-months of daily $NYADV in histogram format -

https://stockcharts.com/c-sc/sc?s=%24NYADV&p=D&yr=1&mn=4&dy=0&i=p09228435053&a=760612625&r=1590534237667

WSJ update for Monday, June 15, 2020 --

NYSE --- Latest Close --- Previous Close --- Week Ago

Issues traded 3,029 3,025 3,035
Advances 1,937 2,335 2,440
Declines 1,013 652 545
Unchanged 79 38 50
New highs 27 12 57
New lows 6 2 4
Adv. volume* 805,084,687 1,019,371,158 1,298,049,107
Decl. volume* 396,103,489 141,442,733 125,300,782
Total volume* 1,222,250,083 1,163,469,995 1,428,021,614
Closing Arms (TRIN)† 1.06 0.43 0.33
Block trades* 6,481 6,510 9,104
Adv. volume 3,661,631,957 5,171,271,883 7,860,152,044
Decl. volume 2,026,699,689 620,715,621 586,604,103
Total volume 5,794,343,267 5,806,961,365 8,466,077,391

[rimshot]

the cumulative net A-D lines for every available
US index remain in a bullish chart configuration
with the following chart conditions present as
of Friday June 12, 2020 -

1. all A-D lines reside above the 19-day EMA, which is the fastest
and most sensitive moving average of importance to interpreting
the chart location of any Advance-Decline line

2. A-D lines' 19-day EMA vs. 39-day EMA vs. 200-day EMA all possess a bullish relationship crossover chart location

=======================

McClellan Oscillator

The McClellan Oscillator is the difference between the 19-EMA & 39-EMA of daily advances minus declines.
It reflects the short-term strength and direction of market liquidity.
A longer-term view is provided by the McClellan Summation Index, which is the cumulative total of the daily McClellan Oscillator values.
These indicators move within a trading range and often identify the overbought/oversold condition of the market

McClellan Summation Index

( McSum = McClellan Summation Index )

the dominant rule is: price will eventually follow the direction of the McSum, except for brief periods of price divergence

The McSum is neutral at the zero line,
bullish while above,
and confirmed bearish while below zero

* the distance down or up to the McSum zero line currently represents
one objective measure of the minimum movement that is possible

Confirmed sell signals are a lasting decline below the McSum zero line,
though price action has usually declined by a large amount by the time
zero is reached from the McSum peak above.

Large distances between the McSum daily chart values represent acceleration events in the A-D breadth decline or advance,
and the follow-on price impact has a high correlation with the McSum's direction, and usually has several days staying power

[rimshot]

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

16-months of daily $NYADV in histogram format -

https://stockcharts.com/c-sc/sc?s=%24NYADV&p=D&yr=1&mn=4&dy=0&i=p09228435053&a=760612625&r=1590534237667

WSJ update for Friday, June 12, 2020 --

NYSE --- Latest Close --- Previous Close --- Week Ago

Issues traded 3,025 3,038 3,038
Advances 2,335 92 2,531
Declines 652 2,932 450
Unchanged 38 14 57
New highs 12 8 64
New lows 2 4 0
Adv. volume* 1,019,371,158 16,342,220 1,312,517,707
Decl. volume* 141,442,733 1,310,823,512 145,792,609
Total volume* 1,163,469,995 1,327,581,512 1,466,151,066
Closing Arms (TRIN)† 0.43 1.98 0.59
Block trades* 6,510 7,587 8,822
Adv. volume 5,171,271,883 109,332,369 7,787,489,090
Decl. volume 620,715,621 6,902,225,260 812,829,746
Total volume 5,806,961,365 7,013,521,826 8,664,322,357

[rimshot]

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

16-months of daily $NYADV in histogram format -

https://stockcharts.com/c-sc/sc?s=%24NYADV&p=D&yr=1&mn=4&dy=0&i=p09228435053&a=760612625&r=1590534237667

WSJ update for Thursday, June 11, 2020 --

NYSE --- Latest Close --- Previous Close --- Week Ago

Issues traded 3,038 3,040 3,022
Advances 92 805 1,603
Declines 2,932 2,164 1,354
Unchanged 14 71 65
New highs 8 40 41
New lows 4 1 3
Adv. volume* 16,342,220 187,844,342 773,766,912
Decl. volume* 1,310,823,512 996,992,412 374,799,896
Total volume* 1,327,581,512 1,188,351,746 1,155,386,254
Closing Arms (TRIN)† 1.98 2.23 0.48
Block trades* 7,587 7,180 7,336
Adv. volume 109,332,369 941,515,171 4,604,942,363
Decl. volume 6,902,225,260 5,648,177,037 1,860,875,354
Total volume 7,013,521,826 6,607,393,177 6,502,307,347

[rimshot]

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

16-months of daily $NYADV in histogram format -

https://stockcharts.com/c-sc/sc?s=%24NYADV&p=D&yr=1&mn=4&dy=0&i=p09228435053&a=760612625&r=1590534237667

WSJ update for Wednesday, June 10, 2020 --

NYSE --- Latest Close --- Previous Close --- Week Ago

Issues traded 3,040 3,030 3,020
Advances 805 618 2,379
Declines 2,164 2,350 577
Unchanged 71 62 64
New highs 40 36 71
New lows 1 3 2
Adv. volume* 187,844,342 123,646,637 923,016,789
Decl. volume* 996,992,412 1,022,786,409 155,015,289
Total volume* 1,188,351,746 1,152,434,946 1,088,736,988
Closing Arms (TRIN)† 2.23 2.03 0.66
Block trades* 7,180 6,955 7,638
Adv. volume 941,515,171 730,541,041 5,123,316,866
Decl. volume 5,648,177,037 5,649,760,557 824,601,429
Total volume 6,607,393,177 6,405,085,344 5,995,720,428

[rimshot]

QQQ 73% level marks the late January 2020
low for the Percentage of the 100 stocks
in the Nasdaq 100 index which reside
above their 150-day simple moving average

* bulls must defend this 73% level if
tested from above

this daily chart updates once daily after
the market close

https://stockcharts.com/c-sc/sc?s=%24NDXA150R&p=D&yr=2&mn=6&dy=0&i=p94500122928&a=769190573&r=1591882658277

PermaLink for StockCharts subscribers -

https://stockcharts.com/h-sc/ui?s=%24NDXA150R&p=D&yr=2&mn=6&dy=0&id=p94500122928&a=769190573

[rimshot]

NYSE cumulative net Advancers minus Decliners line
vs.
its 10-day EMA for important future vigilance

https://stockcharts.com/c-sc/sc?s=%24NYSI&p=D&yr=1&mn=10&dy=0&i=p22864139385&a=306420470&r=1589891229193

** this A-D line recently printed a new all-time record high **

20-year chart history -

https://stockcharts.com/c-sc/sc?s=%24NYA&p=D&yr=20&mn=0&dy=0&i=p51440519756&a=768603950&r=1591800113661

PermaLink for SC subscribers -

https://stockcharts.com/h-sc/ui?s=%24NYA&p=D&yr=20&mn=0&dy=0&id=p51440519756&a=768603950

[rimshot]

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

16-months of daily $NYADV in histogram format -

https://stockcharts.com/c-sc/sc?s=%24NYADV&p=D&yr=1&mn=4&dy=0&i=p09228435053&a=760612625&r=1590534237667

WSJ update for Tuesday, June 9, 2020 --

NYSE --- Latest Close --- Previous Close --- Week Ago

Issues traded 3,030 3,035 3,029
Advances 618 2,440 2,175
Declines 2,350 545 767
Unchanged 62 50 87
New highs 36 57 56
New lows 3 4 4
Adv. volume* 123,646,637 1,298,049,107 794,157,763
Decl. volume* 1,022,786,409 125,300,782 203,348,476
Total volume* 1,152,434,946 1,428,021,614 1,003,757,483
Closing Arms (TRIN)† 2.03 0.33 0.70
Block trades* 6,955 9,104 6,371
Adv. volume 730,541,041 7,860,152,044 4,196,427,306
Decl. volume 5,649,760,557 586,604,103 1,029,144,047
Total volume 6,405,085,344 8,466,077,391 5,259,191,378

[rimshot]

$NYA 400-day SMA provided support
for today's Tuesday June 9 intraday price low

$NYA daily -

https://stockcharts.com/c-sc/sc?s=%24NYA&p=D&st=2016-08-01&i=p4928170551c&a=260296468&r=1590239210316

* the key 600-day SMA resides slightly above Tuesday's
close, and $NYA price closed above the
600-day SMA for only Friday and Monday

chart #2 $NYA daily closes -

https://stockcharts.com/c-sc/sc?s=%24NYA&p=D&yr=0&mn=4&dy=0&i=p43536666784&a=661030714&r=1591744099436

* price has closed 3 consecutive days
slightly above the daily 63,2 Upper Bollinger Band,
which means any net daily selling so far is contained within
a bullish chart setup ...
bulls want the UBB to continue with an upward slope

63 trading days = one quarter of a year

* notice the $NYA 126-day SMA has not recently been tested
from above

[rimshot]

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

16-months of daily $NYADV in histogram format -

https://stockcharts.com/c-sc/sc?s=%24NYADV&p=D&yr=1&mn=4&dy=0&i=p09228435053&a=760612625&r=1590534237667

WSJ update for Friday, June 5, 2020 close --

NYSE --- Latest Close --- Previous Close --- Week Ago

Issues traded 3,038 3,022 3,001
Advances 2,531 1,603 1,421
Declines 450 1,354 1,529
Unchanged 57 65 51
New highs 64 41 27
New lows 0 3 13
Adv. volume* 1,312,517,707 773,766,912 638,685,865
Decl. volume* 145,792,609 374,799,896 1,213,196,916
Total volume* 1,466,151,066 1,155,386,254 1,857,647,982
Closing Arms (TRIN)† 0.59 0.48 1.74
Block trades* 8,822 7,336 6,581
Adv. volume 7,787,489,090 4,604,942,363 2,565,863,964
Decl. volume 812,829,746 1,860,875,354 4,808,640,621
Total volume 8,664,322,357 6,502,307,347 7,395,824,135

[rimshot]

McSum chart values for indices,
as of Tuesday's May 26 close -

above zero line -

+16.78 - NYSE Common Stocks Only, day #1 above zero line since February
+256.65 - NYSE All Issues, day #19 above zero line
+294.19 - Nasdaq Composite, day #18 above zero line
+779.90 - Nasdaq 100, day #22 above zero line
+111.85 - S&P 500, consecutive day #6 above zero line
+294.37 - S&P 400 Mid Cap, day #19 above zero line
+6.28 - S&P 600 Small Cap, day #1 above zero line since February

below zero line -

-44.45 - S&P 100, zero days above zero line since March 2
-141.88 - Dow Jones Industrial, zero days above zero line since February

$SPX daily chart -

https://stockcharts.com/c-sc/sc?s=%24SPX&p=D&yr=1&mn=2&dy=0&i=p36506950628&a=340963635&r=1590541588321

McClellan Oscillator

The McClellan Oscillator is the difference between the 19-EMA & 39-EMA of daily advances minus declines.
It reflects the short-term strength and direction of market liquidity.
A longer-term view is provided by the McClellan Summation Index, which is the cumulative total of the daily McClellan Oscillator values.
These indicators move within a trading range and often identify the overbought/oversold condition of the market

McClellan Summation Index

( McSum = McClellan Summation Index )

the dominant rule is: price will eventually follow the direction of the McSum, except for brief periods of price divergence

The McSum is neutral at the zero line,
bullish while above,
and confirmed bearish while below zero

* the distance down or up to the McSum zero line currently represents
one objective measure of the minimum movement that is possible

Confirmed sell signals are a lasting decline below the McSum zero line,
though price action has usually declined by a large amount by the time
zero is reached from the McSum peak above.

Large distances between the McSum daily chart values represent acceleration events in the A-D breadth decline or advance,
and the follow-on price impact has a high correlation with the McSum's direction, and usually has several days staying power

[rimshot]

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

16-months of daily $NYADV in histogram format -

* today's # of Advancing issues is smaller than in late April 2020

https://stockcharts.com/c-sc/sc?s=%24NYADV&p=D&yr=1&mn=4&dy=0&i=p09228435053&a=760612625&r=1590534237667

WSJ update for Tuesday, May 26, 2020 close --

NYSE --- Latest Close --- Previous Close --- Week Ago

Issues traded 3,021 3,005 3,007
Advances 2,493 1,648 1,141
Declines 466 1,275 1,801
Unchanged 62 82 65
New highs 42 26 28
New lows 3 7 9
Adv. volume* 938,676,110 322,081,222 235,266,743
Decl. volume* 196,789,926 383,566,431 636,217,014
Total volume* 1,142,497,318 718,945,452 875,092,397
Closing Arms (TRIN)† 0.99 1.64 1.78
Block trades* 6,912 4,884 5,501
Adv. volume 4,963,403,602 1,738,109,182 1,350,865,819
Decl. volume 919,639,264 2,200,719,199 3,796,691,635
Total volume 5,920,472,118 4,015,809,832 5,168,830,513

[rimshot]

$NYA weekly Point & Figure chart remains in limbo for now in terms of directional clarity,
though
bulls appear to be weakening to a limited degree ...this condition could change quickly in either direction -

$NYA weekly PnF chart

http://c.stockcharts.com/pnf/chart?c=%24NYA,PRTDWDNRBO[PA][D][F1!3!!!2!20]&r=3161&pnf=y

chart #2 - $NYA daily vs. 21-day SMA

* bulls need to defend the 21-day moving average if and when
tested from above ...
while the bearish case's Staying Power
will depend on holding price action below the 21-day SMA

http://stockcharts.com/c-sc/sc?s=%24NYA&p=D&st=2016-08-01&i=p93390940969&a=260296468&r=1590367937168

chart #3 - $NYA monthly with 15,2 Bollinger Band

* bulls must eventually hold price above the declining
5-month SMA to provide higher confidence in the probable
Staying Power for the potential upward direction by US equities

http://stockcharts.com/c-sc/sc?s=%24NYA&p=M&yr=3&mn=10&dy=0&i=p75385518571&a=568822129&r=1590368360686

chart #4 - $NYA daily closes chart with five moving averages

* bulls must eventually hold price above the 100-day SMA as
a starting point for confidence building in the future upward probability

http://stockcharts.com/c-sc/sc?s=%24NYA&p=D&yr=0&mn=5&dy=0&i=p81153839726&a=428891253&r=1590368624848

chart #5 - many years view of the $NYSI

http://stockcharts.com/c-sc/sc?s=%24NYSI&p=D&st=2013-01-01&i=p0895347219c&a=382915264&r=1590368754657

[rimshot]

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

WSJ update for Friday, May 22, 2020 close --

NYSE --- Latest Close --- Previous Close --- Week Ago

Issues traded 3,005 3,017 3,009
Advances 1,648 1,542 1,658
Declines 1,275 1,395 1,268
Unchanged 82 80 83
New highs 26 30 29
New lows 7 6 17
Adv. volume* 322,081,222 446,132,103 752,069,511
Decl. volume* 383,566,431 508,419,388 605,194,587
Total volume* 718,945,452 968,182,461 1,378,472,999
Closing Arms (TRIN)† 1.64 1.07 0.98
Block trades* 4,884 5,280 5,716
Adv. volume 1,738,109,182 2,548,615,316 3,136,537,123
Decl. volume 2,200,719,199 2,474,404,315 2,351,923,995
Total volume 4,015,809,832 5,076,385,955 5,574,950,955

[rimshot]

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

WSJ update for Thursday, May 21, 2020 close --

NYSE --- Latest Close --- Previous Close --- Week Ago

Issues traded 3,017 3,005 3,023
Advances 1,542 2,361 1,614
Declines 1,395 587 1,353
Unchanged 80 57 56
New highs 30 34 15
New lows 6 7 104
Adv. volume* 446,132,103 719,511,906 731,743,087
Decl. volume* 508,419,388 189,504,278 318,841,321
Total volume* 968,182,461 921,020,388 1,064,015,137
Closing Arms (TRIN)† 1.07 1.04 0.55
Block trades* 5,280 5,522 6,315
Adv. volume 2,548,615,316 3,924,681,826 3,822,149,213
Decl. volume 2,474,404,315 1,018,895,584 1,775,416,644
Total volume 5,076,385,955 5,002,944,695 5,667,761,250

[rimshot]

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

WSJ update for Wednesday, May 20, 2020 close --

NYSE --- Latest Close --- Previous Close --- Week Ago

Issues traded 3,005 3,007 3,012
Advances 2,361 1,141 326
Declines 587 1,801 2,648
Unchanged 57 65 38
New highs 34 28 16
New lows 7 9 72
Adv. volume* 719,511,906 235,266,743 109,336,311
Decl. volume* 189,504,278 636,217,014 1,007,278,282
Total volume* 921,020,388 875,092,397 1,123,776,341
Closing Arms (TRIN)† 1.04 1.78 0.91
Block trades* 5,522 5,501 6,659
Adv. volume 3,924,681,826 1,350,865,819 729,690,527
Decl. volume 1,018,895,584 3,796,691,635 5,380,990,831
Total volume 5,002,944,695 5,168,830,513 6,145,647,553

[rimshot]

$OEX McSum remains below its zero line,
which represents the intermediate-term
bull/bear pivot location for the McSum

http://stockcharts.com/c-sc/sc?s=%24OEX&p=D&yr=0&mn=10&dy=20&i=p19081465758&a=589367470&r=1586708199509

$SPX McSum remains below its zero line,
which represents the intermediate-term
bull/bear pivot location for the McSum

http://stockcharts.com/c-sc/sc?s=%24SPX&p=D&yr=0&mn=10&dy=20&i=p18430429275&a=589367469&r=1588775103502

$OEX daily with price horizontals & Moving Averages
for future vigilance

http://stockcharts.com/c-sc/sc?s=%24OEX&p=D&yr=1&mn=5&dy=0&i=p55670041540&a=340963852&r=1583205795342

related daily chart

* bulls must position the cumulative net Advance-Decline
lines on a lasting basis above their respective
50-day SMA's

http://stockcharts.com/c-sc/sc?s=!ADLINESPX&p=D&yr=0&mn=4&dy=0&i=p23825448009&a=705248095&r=1588168360271

$NDX McSum zero line vigilance

http://stockcharts.com/c-sc/sc?s=%24NDX&p=D&yr=0&mn=10&dy=20&i=p88713110248&a=589367468&r=1586707914873

the internals displayed on this daily chart for
four indices need to remain above
their zero line on a consistent basis for the bulls to even have an opportunity to take control of the US equity market price action on a lasting basis

http://stockcharts.com/c-sc/sc?s=SPY&p=D&yr=2&mn=1&dy=0&i=t3129121714c&a=585817572&r=1588773409570

$SPX daily closes chart with key sectors vs. their 55-day EMA

http://stockcharts.com/c-sc/sc?s=%24SPX&p=D&yr=0&mn=5&dy=0&i=p54623771630&a=581747427&r=1588534487918

$SPX daily closes chart with 3 S&P 500 internals for
important future vigilance

http://stockcharts.com/c-sc/sc?s=%24SPX&p=D&yr=1&mn=10&dy=0&i=p48145416080&a=747130146&r=1588437201539

$SPX daily vigilance of key price moving averages and key
price horizontals

http://stockcharts.com/c-sc/sc?s=%24SPX&p=D&yr=1&mn=3&dy=0&i=p69567235682&a=588455757&r=1588406110278

http://stockcharts.com/c-sc/sc?s=%24SPX&p=D&st=2010-08-01&i=p31102185077&a=747407124&r=1588513454224

http://stockcharts.com/c-sc/sc?s=%24SPX&p=D&yr=1&mn=4&dy=0&i=p65303253958&a=417728869&r=1588349975399

http://c.stockcharts.com/c-sc/sc?s=%24SPX&p=D&yr=1&mn=10&dy=0&i=p97802610981&a=589417407&r=1579414387080

SPY daily closes vs. 200-day EMA with key internals for
future combo vigilance

http://stockcharts.com/c-sc/sc?s=!PMOAZSPX&p=D&yr=11&mn=0&dy=0&i=p08708198884&a=587504104&r=1523123070973

RSP Point & Figure chart for very important
horizontal price action vigilance which relates
to assessing the future probable Staying Power
of declines or advances for both RSP and SPY

http://c.stockcharts.com/pnf/chart?c=RSP,PFTBDHNRBO[PA][D][F1!3!!!2!20]&r=4939&pnf=y

$NYA daily with key horizontals for future vigilance

http://stockcharts.com/c-sc/sc?s=%24NYA&p=D&st=2016-08-01&i=t3392956411c&a=260296468&r=1588773711528

http://stockcharts.com/c-sc/sc?s=%24NYA&p=D&yr=1&mn=7&dy=0&i=p57507021412&a=627156801&r=1584646304236

$BKX weekly Point & Figure chart for future
horizontal bull/bear vigilance

http://c.stockcharts.com/pnf/chart?c=%24BKX,PFTBWHYRBO[PA!B15][D][F1!3!!!2!20]&r=8579&pnf=y

XLF daily Point & Figure chart for future
horizontal bull/bear vigilance and 15-day SMA
vigilance

http://c.stockcharts.com/pnf/chart?c=XLF,PFTBDBNRBO[PA!B15][D][F1!3!!!2!20]&r=8666&pnf=y

S&P Composite 1500 index daily chart with key
Moving Averages and price horizontals for future
bull/bear vigilance

http://stockcharts.com/c-sc/sc?s=%24SPSUPX&p=D&yr=0&mn=10&dy=0&i=p10389542068&a=691610419&r=1588774075943

SPY daily chart with key Moving Averages
and Bollinger Band vigilance

http://stockcharts.com/c-sc/sc?s=SPY&p=D&yr=0&mn=5&dy=0&i=p45269694420&a=625947950&r=1587683803234

http://c.stockcharts.com/c-sc/sc?s=SPY&p=D&b=5&g=0&i=p55781308059&a=588696709&r=1573882085043

http://stockcharts.com/c-sc/sc?s=$NYAD&p=D&st=2009-01-01&en=%28today%29&i=p72181240658&a=286429918&r=1363422999979

SPY weekly with Moving Average & Bollinger Band vigilance

http://stockcharts.com/c-sc/sc?s=SPY&p=W&yr=2&mn=5&dy=0&i=p72677491179&a=625675189&r=1588128375524

[rimshot]

NYSE Breakaway Momentum as defined by Walter Deemer:

* keeping track of how day #10 measures up to
Walter's stated requirement for the 3 days which
follow the initial 7 days which started the potential
NYSE Breakaway Momentum statistical setup --

@WalterDeemer
·
Breakaway Momentum?

equals approx 1250 net NYSE advances per day for the three days starting with April 30 as day #8 )

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

WSJ update for Monday, May 4, 2020 close --

NYSE --- Latest Close --- Previous Close --- Week Ago

Issues traded 3,000 3,018 3,019
Advances 1,369 436 2,329
Declines 1,569 2,534 644
Unchanged 62 48 46
New highs 5 5 31
New lows 10 5 9
Adv. volume* 435,049,936 80,073,795 804,569,728
Decl. volume* 526,420,714 840,352,027 159,384,018
Total volume* 968,544,199 923,265,004 969,514,815
Closing Arms (TRIN)† 1.00 1.77 0.81
Block trades* 5,248 5,143 5,482
Adv. volume 2,221,217,660 421,617,598 4,268,051,132
Decl. volume 2,554,706,176 4,334,592,562 950,700,833
Total volume 4,810,674,861 4,767,957,480 5,251,577,111

[rimshot]

NYSE Breakaway Momentum as defined by Walter Deemer:

* keeping track of how day #9 measures up to
Walter's stated requirement for the 3 days which
follow the initial 7 days which started the potential
NYSE Breakaway Momentum statistical setup --

@WalterDeemer
·
Breakaway Momentum?

equals approx 1250 net NYSE advances per day for the next three days ( starting with April 30 as day #8 )

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

WSJ update for Friday, May 1, 2020 close --

NYSE --- Latest Close --- Previous Close --- Week Ago

Issues traded 3,018 3,016 3,014
Advances 436 794 1,835
Declines 2,534 2,161 1,107
Unchanged 48 61 72
New highs 5 17 14
New lows 5 2 23
Adv. volume* 80,073,795 382,591,439 624,214,722
Decl. volume* 840,352,027 1,133,898,280 418,318,649
Total volume* 923,265,004 1,523,502,252 1,058,941,458
Closing Arms (TRIN)† 1.77 0.84 1.29
Block trades* 5,143 6,987 5,769
Adv. volume 421,617,598 2,005,596,075 3,035,562,220
Decl. volume 4,334,592,562 4,562,580,028 2,370,101,350
Total volume 4,767,957,480 6,614,084,239 5,472,323,141

[rimshot]

NYSE Breakaway Momentum as defined by Walter Deemer:

* keeping track of how day #8 measures up to
Walter's stated requirement for the 3 days which
follow the preceding 7 days --

@WalterDeemer
·
Breakaway Momentum?

equals approx 1250 net NYSE advances per day for the next three days ( starting with April 30 as day #8 )

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

WSJ update for Thursday, April 30, 2020 close --

NYSE --- Latest Close --- Previous Close --- Week Ago

Issues traded 3,016 3,013 3,019
Advances 794 2,628 1,817
Declines 2,161 365 1,135
Unchanged 61 20 67
New highs 17 24 21
New lows 2 4 18
Adv. volume* 382,591,439 1,029,821,876 700,164,632
Decl. volume* 1,133,898,280 188,243,420 351,755,164
Total volume* 1,523,502,252 1,219,263,555 1,057,294,046
Closing Arms (TRIN)† 0.84 1.42 0.69
Block trades* 6,987 6,888 6,193
Adv. volume 2,005,596,075 5,519,181,353 4,033,429,654
Decl. volume 4,562,580,028 1,091,613,711 1,748,646,979
Total volume 6,614,084,239 6,615,601,208 5,812,740,909

[rimshot]

stockcharts.com has revised the
NYSE # of Advancers and # of Decliners since
I first checked the April 29th closing data
at approx. 8:30 pm Eastern on April 29th

* the # of NYSE Advancers on April 29th
no longer has set a multi-month record
for this metric using the revised data
now displayed at SC

the # of Advancers for April 29th has been revised
downward by more than 200 if memory serves, and the
# of Decliners for April 29th has been revised
slightly downward

Link to WSJ end of day Market Diary -

https://www.wsj.com/market-data/stocks/marketsdiary

update for April 29, 2020 -


NYSE --- Latest Close ---- Previous Close ---- Week Ago

Issues traded 3,013 3,019 3,011
Advances 2,628 2,139 2,084
Declines 365 822 881
Unchanged 20 58 46
New highs 24 31 16
New lows 4 4 22
Adv. volume* 1,029,821,876 794,923,473 715,142,469
Decl. volume* 188,243,420 232,055,993 289,057,756
Total volume* 1,219,263,555 1,032,499,133 1,022,029,863
Closing Arms (TRIN)† 1.42 0.72 0.98
Block trades* 6,888 6,219 5,786
Adv. volume 5,519,181,353 4,425,216,850 3,561,104,275
Decl. volume 1,091,613,711 1,228,919,059 1,470,597,159
Total volume 6,615,601,208 5,685,102,919 5,134,856,817

[rimshot]

Breakaway Momentum as defined by the recognized expert
on the topic:

Walter Deemer
@WalterDeemer
·
14 hours ago

Breakaway Momentum?

equals approx 1250 net NYSE advances per day for the next three days

==============================

Link to Walter's explanation -

https://www.walterdeemer.com/bam.htm

excerpt -

BREAKAWAY MOMENTUM 101


Downside momentum usually peaks at the end of a decline, as prices cascade into a primary low. On the upside, though, momentum peaks at the beginning of an advance, then gradually dissipates as the advance goes on, and the more powerful the momentum at the move's beginning, the stronger the overall move; REALLY strong momentum is found only at the beginning of a REALLY strong move: a new bull market or a new intermediate upleg within a bull market. We coined the term "breakaway momentum" in the 1970's to describe this REALLY powerful upside momentum. The following is a review of what it is and how it is typically generated.

Breakaway momentum (some people call it a "breadth thrust") occurs when ten-day total advances on the NYSE are greater than 1.97 times ten-day total NYSE declines. It is a relatively uncommon phenomenon; the table at the end of this report shows the 23 times it has occurred since World War II (an average of once every 3 1/2 years). Cyclical bull markets, though, are traditionally heralded by breakaway momentum, so we are hopeful that it will be generated this time around, too.

How is breakaway momentum typically achieved? It's not easy. Usually, we need three things to happen. First, we need a VERY strong advance at the outset of the ten-day period. Typically, this requires an advance-decline ratio in the area of 2800-500 on the first day, 2500-700 on Day Two, and 2050-1050 on Days Three and Four. This creates a cumulative ratio of 2.69-1, which is well above the 1.97 threshold.

The very strong advances on the first two days followed by still-positive breadth on the next two are a formidable achievement, but the next one is even tougher. Markets never go straight up, and the real trick in achieving breakaway momentum is to keep declines limited during the inevitable corrections that occur in any ten-day period (it takes two advances to offset every decline, which is why "good" breadth days of 2-1, or even 3-1, won't cut it as far as achieving breakaway momentum is concerned).

In order to keep declines limited during corrections, the corrections must be minimal; often, this occurs when intraday declines abort before the close, and a big breadth deficit turns into just a narrow one by day's end. Breadth during the "correction days" (Days 5-6), then, should be no worse than 1400-1700; although this pushes the cumulative ratio down to 1.84, this is a far from insurmountable deficit. The final element needed to get breakaway momentum is a second strong advance during Days Seven through Ten; not quite as strong as the initial advance, but not too far behind it, either.

If, for example, the market generates breadth during Days Seven through Ten of 2500-700, 2300-800, 2100-1000 and 1900-1200, the ten-day breadth totals are 21000 and 10400. This generates a ten-day breadth ratio of 2.02 - breakaway momentum!

The real trick in generating breakaway momentum? It's not a lot of advances; it's a lack of declines. If the market stages a strong two-day advance, for example, it MUST maintain very positive breadth days for a couple of days afterwards (Days Three-Four and Nine-Ten) to keep the ten-day declines to a minimum. Also, declines MUST be kept to a minimum during the "normal" correction in the middle of the ten-day period; declines can exceed advances during those two days, but not by much or it will be impossible for the market to generate the two advances needed to offset every decline.

==========

a brief bio written in October 2019 -

Walter Deemer has been a Technical Analyst for 57 years, after starting his career at Merrill Lynch working for legendary Technician Bob Farrell.

He is a founding member and past president of the CMT Association and coined the phrase, “When the time comes to buy, you won’t want to!”, which is the title of one of the books he’s authored.

[rimshot]

the recent six days of strength displays
an unusual degree of NYSE Advancing issues percentage
strength as also witnessed during the other
dates shown below extracted from a 40-year look back
shared by another Poster for the:

NYSE Advancing issues percentage averaged over
the six preceding days, and using the Wall Street
Journal as the data source

(StockCharts uses a different data source ) -

dates when the 6-day average of the NYSE advancing % was
above 69%

Date / 6 Day Avg of NYSE Advancing issues as a % of total NYSE Advancers plus Decliners

1/11/1980 …. 0.695641541
8/20/1982 …. 0.732337482
8/23/1982 …. 0.753697467
8/24/1982 …. 0.72764402
8/25/1982 …. 0.702552376
8/26/1982 …. 0.702660746
10/11/1982 ….0.711944458
10/12/1982 ….0.731624665
10/13/1982 ….0.753743124
8/3/1984 …... 0.691225507
1/8/1987 …... 0.716922746
1/9/1987 …... 0.743263905
1/12/1987 ….. 0.706534391
2/6/1991 …... 0.711907008
2/11/1991 ….. 0.690214838
12/30/1991 ….0.715671323
12/31/1991 ….0.719459151
8/24/2007 ….. 0.693307023
11/4/2008 ….. 0.716266416
1/2/2009 …... 0.698179199
1/5/2009 …... 0.710295965
1/6/2009 …... 0.71624072
3/17/2009 ….. 0.736368914
3/18/2009 ….. 0.716290632
3/19/2009 ….. 0.700351632
7/16/2009 ….. 0.706148877
7/20/2009 ….. 0.734331915
9/10/2009 ….. 0.703026257
9/11/2009 ….. 0.730154734
9/14/2009 ….. 0.713268704
9/15/2009 ….. 0.697160558
9/16/2009 ….. 0.709169647
6/15/2010 ….. 0.698208861
7/26/2010 ….. 0.713543886
7/5/2011 ….... 0.706359823
8/30/2011 ….. 0.694593195
10/12/2011 ….0.692104101
10/27/2011 ….0.694801425
7/3/2012 ….... 0.728715531
7/5/2012 …..... 0.695291112
2/13/2014 ….. 0.704561702
10/7/2015 ….. 0.700757238
10/8/2015 ….. 0.704241923
10/9/2015 ….. 0.717755259
2/22/2016 ….. 0.703754974
3/3/2016 …... 0.691543381
1/7/2019 …... 0.694188278
1/8/2019 …... 0.715727704
1/9/2019 …... 0.70963043
1/10/2019 ….. 0.694993657
1/11/2019 ….. 0.720064369
4/9/2020 …... 0.69900791
4/14/2020 ….. 0.731544925
4/29/2020........ 0.724556857

=======================================

new multi month record achieved Wednesday April 29th for
the # of NYSE Advancing issues

a buying climax?

* possibly a bullish characteristic only if continued follow through is seen in the intermediate term

https://stockcharts.com/c-sc/sc?s=%24NYDEC&p=D&yr=0&mn=6&dy=0&i=p59197000522&a=382915119&r=1585843379221

[rimshot]

new multi month record achieved today for
the # of NYSE Advancing stocks

a buying climax?

possibly bullish characteristic only if continued follow through is seen

https://stockcharts.com/c-sc/sc?s=%24NYDEC&p=D&yr=0&mn=6&dy=0&i=p59197000522&a=382915119&r=1585843379221

[NASARAVI]

Rimshot

I have reviewed the adlinespx and adlinendxcharts and both indicate that they have bottomed and are still above 19 ema.

Watching the cross of 19/39 emas now.

Using NASI and NYSI indictaors as well to build conviction.

Again, I missed the bottom as confusion arose - after I got back from turkey and my long term fear factor,
That I missed the bottom again.

As I see now, the bottom was clear using adlinespx and adlinendx.

While I did trade a few shares, bulk of the move was in amzn and nflx which bottomed first. That was a clue.

I shoudl just sick to buying spy or tqqq that doubled.

Now I see run to 3030-3050 by next week.

As long as the adlinendx is above ema 19, we should be fine.

Keep in touch.

[rimshot]

SPY and RSP monthly with 15,2 Bollinger Bands -

* SPY 20-month EMA represents a potential bull/bear
pivot moving average of current importance

* SPY bulls do not want to see the RSI-14
stall & reverse at the 50 region

https://stockcharts.com/c-sc/sc?s=SPY&p=M&yr=2&mn=4&dy=0&i=p74763006343&a=585766179&r=1586960229815

[rimshot]

$SPX 2851.85 day high on Tuesday April 14, 2020
vs.2855.94 October 2019 low / 2855.84 late February 2020 low

$SPX 2843.12 = 600-day SMA at Tuesday's close, and
represents a potential bull/bear pivot moving average
in the intermediate term

at Tuesday's close, the /ES futures:

2857.50 = 21,2 daily upper Bollinger Band value

2798.00 = 50-day EMA value

2635.75 = one /ES futures level which
bulls must defend during declines
and
bears must permanently violate to gain traction
for a lasting price decline

( 2635.75 = the March 31, 2020 session high achieved
in the Globex hours )

SPY 283.87 region is the potential horizontal resistance level of
current importance, which represents the late February 2020
low

SPY weekly -

* bulls do not want to see the RSI-14 level
stall & reverse from the 45.14 level

https://stockcharts.com/c-sc/sc?s=SPY&p=W&yr=1&mn=6&dy=0&i=p34254016065&a=734076515&r=1586959130849

[rimshot]

$SPX price bars using 21-day SMA, 50-day EMA & 100-day SMA
and 21,2 Bollinger Bands as key vigilance items

https://stockcharts.com/c-sc/sc?s=%24SPX&p=D&yr=0&mn=10&dy=20&i=p39194776096&a=589367469&r=1586708460313

%B - for spotting potential tops & bottoms

15,3,6 Full Stochastics - for trend identification & for spotting potential tops & bottoms

Carl Swenlin's Price Momentum Oscillator - above or below zero line vigilance & for divergence spotting

Advance-Decline line - vigilance vs. four moving averages

RSI-14 - vigilance vs. 40, 50, & 60 levels

[rimshot]

$OEX price bars using 21-day SMA, 50-day EMA & 100-day SMA
and 21,2 Bollinger Bands as key vigilance items

https://stockcharts.com/c-sc/sc?s=%24OEX&p=D&yr=0&mn=10&dy=20&i=p19081465758&a=589367470&r=1586708199509

%B - for spotting potential tops & bottoms

15,3,6 Full Stochastics - for trend identification & for spotting potential tops & bottoms

Carl Swenlin's Price Momentum Oscillator - above or below zero line vigilance & for divergence spotting

Advance-Decline line - vigilance vs. four moving averages

RSI-14 - vigilance vs. 40, 50, & 60 levels

[rimshot]

$NDX price bars using 21-day SMA, 50-day EMA & 100-day SMA
and 21,2 Bollinger Bands as key vigilance items

https://stockcharts.com/c-sc/sc?s=%24NDX&p=D&yr=0&mn=10&dy=20&i=p88713110248&a=589367468&r=1586707914873

%B - for spotting potential tops & bottoms

15,3,6 Full Stochastics - for trend identification & for spotting potential tops & bottoms

Carl Swenlin's Price Momentum Oscillator - above or below zero line vigilance & for divergence spotting

Advance-Decline line - vigilance vs. four moving averages

RSI-14 - vigilance vs. 40, 50, & 60 levels

[rimshot]

cumulative net Advance-Decline lines in histogram format for:

$SPX

https://stockcharts.com/c-sc/sc?s=%21ADLINESPX&p=D&st=2019-10-31&i=p09170486617&a=607135436&r=1586705560320

$NDX

https://stockcharts.com/c-sc/sc?s=%21ADLINENDX&p=D&st=2019-10-31&i=p79188051400&a=607135438&r=1586705626223

NYSE "common stocks only" version

https://stockcharts.com/c-sc/sc?s=%21ADLINENYC&p=D&st=2019-10-31&i=p65132280718&a=607135437&r=1586705703010

$INDU

https://stockcharts.com/c-sc/sc?s=%21ADLINEDOW&p=D&st=2019-10-31&i=p78916418505&a=607135439&r=1586705937527

charts above display cumulative Advance-Decline breadth lines
which are the cumulative total of daily net Advance-Decline values

Common Stock Only indicators for the NYSE are calculated using only the # of stocks
for operating companies within the NYSE Composite Index (funds are excluded)
CSO indicators often present a more accurate internal picture for the NYSE Composite Index
The NYSE All Issues indicators are calculated using all issues traded in the NYSE Composite Index

McClellan Oscillator

The McClellan Oscillator is the difference between the 19-EMA & 39-EMA of daily advances minus declines.
It reflects the short-term strength and direction of market liquidity.
A longer-term view is provided by the McClellan Summation Index, which is the cumulative total of the daily McClellan Oscillator values.
These indicators move within a trading range and often identify the overbought/oversold condition of the market

McClellan Summation Index

( McSum = McClellan Summation Index )

the dominant rule is: price will eventually follow the direction of the McSum, except for brief periods of price divergence

The McSum is neutral at the zero line,
bullish while above,
and confirmed bearish while below zero

* the distance down or up to the McSum zero line currently represents
one objective measure of the minimum movement that is possible

Confirmed sell signals are a lasting decline below the McSum zero line,
though price action has usually declined by a large amount by the time
zero is reached from the McSum peak above.

Large distances between the McSum daily chart values represent acceleration events in the A-D breadth decline or advance,
and the follow-on price impact has a high correlation with the McSum's direction, and usually has several days staying power

[rimshot]

Ravi - I want to clearly state to you and others who read this
that you have acquired a skill set for trade timing
of exits and entries which few possess or even care to know

You have demonstrated to me via posts and the more numerous emails
which followed in 2018 that you are competent and proficient
in interpreting the trading actions called for by the data set when giving it your
focused attention ...
in my judgment you ought to consider yourself having an edge over
the masses who know not what they are missing ...
as a result your confidence in your accurate interpretation skills has a solid foundation

to serve as a reminder to you, here is a cut and paste of an email excerpt from you in August 2018 -

"watching 21,2 UBB going above the 50,2 UBB on NDX. Strong move.

- watching 19 ema and 39 ema slopes on ADLINENDX

- watching Cumulative NYAD and NYAD moving average charts

- watching SPXEW weekly and RSP monthly charts"

======================

FYI to ponder -

nothing compels us to choose that the appearance of knowledge
entitles another person to be believed or trusted

"Them that know, know they know.
Them that don’t know, don’t know they don’t know.”

— Mike Epstein, of MIT

* a tribute to Mike Epstein is Linked below

https://www.marketmisbehavior.com/blog/three-lessons-from-mike-epstein

[rimshot]

Nasdaq 100 Bullish Percents Index at 54.00 on Thursday
August 16, 2018 represents a multi-month low, so bulls
need it back above the 65 to 70 zone to achieve any
lasting price bounce in the long term

daily chart of the Nasdaq 100 cumulative Advance-Decline
Percent with the NDX 100 price bars … starting from a fixed date
in 2014

* the cumulative A-D Percent 21-day sma is pointing down for several days

https://stockcharts.com/h-sc/ui?s=%24NDXADP&p=D&st=2014-03-29&id=p06431737835&listNum=3&a=364431467

[rimshot]

JWN new 52-week price high today,
August 17, 2018

[rimshot]

we have had strange overall technicals in 2nd
half of August in some prior years ahead of the Jackson Wyoming economic conference

diverging internals with SPY price in hover mode
in the upper range

one recent year sticks in my memory that the
SPY
bounce to short was some days after the conference

good review Ravi

thanks for your diligence and study

[NASARAVI]

RIM - Aug 16 closing update

1. PMOAZNDX critical juncture if 34 crosses below 63 - bad

2. ADLINENDX below 19 ema and slope negative

3. MCOSC NDX and NAS below 0

4. MCSUMNDX below 5 ema

5. MCSUMNDX below July 5 level - is concern today at 485.80 July 5 at 517.17

6. NDX NYSE MCSUM showing lower low

Takeaway

NDX and NAS are weak are down trending

SPX and DOW are showing some divergences as they are trending up

Good point on PMO for Spy holding green line as resistance for weeks not good

Bifurcated market but all indices will need to realign and start down? Based on MCSUM

[NASARAVI]

RIM

Thought of trading this - but was not sure it would go up on earnings -

Thanks.

[NASARAVI]

RIM

Very clearly - has consequences to the ability to move up.

Regards.

[rimshot]

Upside retracement after a decline is now briefly in play
with an unusually large price gap up
today August 16, 2018 for
4 indices,

In the big view they all look tentative
at this point in the multiple day
price sequence,even in light of today's breakaway
price gap to the upside

time will tell

https://stockcharts.com/h-sc/ui?s=SPY&p=D&yr=1&mn=4&dy=0&id=p89502935265&a=482077575

* bulls need price above the 5O
day SMA in the long term

[rimshot]

Department store stocks see profit taking

https://finance.yahoo.com/news/why-department-store-stocks-dropped-190600361.html

Macy's from below $25 area for a lengthy period in 2017
saw a good run... sentiment for Macy's bottomed in 2016/2017 and
that process took about 10 months below $42, if memory serves...from $70's then from $40's
to the low $20's decline took a while and then price based for months near the bottom, eventually briefly below $20 - see the monthly lower BB

M monthly overview -

https://finviz.com/quote.ashx?t=M&ty=c&ta=0&p=m

[rimshot]

you see the SPY daily PMO stalled below the lime
green H line for several weeks?

https://stockcharts.com/public/1442871