MBO Issue 41 (May 2015) Special Update

By Lawrence

MarketBiasObserver Special Update

Special update on S&P 500.

Custom market breadth in US stock markets has been compressed to the point that it is about to make a move. That points to major swing in S&P 500, Nasdaq 100 and Dow Jones Industrial Average.

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  • smilingsynic May 18, 2015 at 10:48 pm

    Three pushes up: the trendline connecting SPX highs from 3/23 and 4/27 met today. If one MUST sell in May and go away, this might be not so bad a place to do so.

    When SPX 2072 served as support, the target was 2124, which we reached today (for the first time in May).

    But this is a pre-holiday week. I have doubts that volume will be unlocked. Friday will be almost a holiday in itself.

    The market has not exactly been on a tear this year, yet there has been little fear either.

    The bull’s case looks lackluster, and the bearish case needs more to convince me.

    • Lawrence May 19, 2015 at 4:26 pm

      The upper boundary based on STOPD expansion is now reached. The breadth is weak. So a pullback of 4 to 5 percent is within reason and not going to damage the longer term (weekly) support.

      Just a sideway mkt. =)

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