Bears are just chip chipping away this week, showing up again where they need to and really trying to push SPY through its 20dma.
Futures are up just a bit this morning and the key note today will be if bears can establish a small trend down on this Friday.
Must read Market Anthropology released a new note: Total Consciousness
Do not miss Erik’s work!
ukarlewitz with a few interesting charts
RT of cperruna “Market Correction won’t start until NH-NL Diff turns negative (consistently)” Chart
Recommends this site, The Short Side of Long <First time I’ve visited the site, but the latest entry is a good read, so I’ll check back in the future.>
Notes “Friday will be a good tell. Tutes sell EOW when they’re nervous about w/e risk. Reverse is true as well. Which is why it correlates w/ trend.”
And perhaps most importantly, notes “While SPX has been flat for 2 weeks, TLT has moved higher. Over the past one month there has been zero return over risk-free” <For you risk adjusted measure folks. Also generally speaking, a bearish situation.>
CiovaccoCapital with a nice NYMO chart. Breadth
And another stock/bond chart that speaks to the same risk-free return concern in the market. SPY/IEF
Retail_Guru always providing the 411 on Retail reports, better than anywhere else you’ll find. Go read his stream. Though the tweet regarding NKE (iOwn) that stands out the msot to me is “Most impressive thing about NKE is how in its most mature market, the US, it can still drive scorching 18% sales growth”
And RedDogT3Live with his levels to watch “spx important support stands at 1538-1545. A close below this opens the door to 1517. A move back above 1552ish relieves some pressure”
Enjoy your weekends.
