Market SnapShot 01-09-2015

Use the following table for a quick measure of the markets over a variety of different time-frames.

Click the image for a better view…


The key this week is that the VIX is still in a medium-term and short-term bull trend. This confirms the likelihood that the Bear trend of the SPY (in multiple time-frames) is likely to continue.

Other interesting markets are USO, which is in a long-term bear-trend but has recently become extremely overbought. Further falls are quite likely.

GLD has recently transitioned to a short-term bull trend, medium-term neutral. The recent strength in volume which coincided with intra-day rallies provides further evidence that the longer-term trend in gold might be positively transitioning too.

TLT remains neutral but oversold in the near-term. Expect a bounce.

The major equity market sectors all remain weak across multiple time-frames. The percentage of Russell3000 stocks that are currently trading above their 200 day MA is only 36%.

As long as the majority of sectors remain in a bear trend, it’s a case of selling the rips as opposed to buying the dips.

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