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Subu Trade

@subuiltrade

Trading large trends/key themes and smaller opportunities in between.

ID: 1641701310

linkhttps://www.subutrade.com/p/markets-report-pullback-ahead calendar_today03-08-2013 01:21:32

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More than 96% of S&P 500 stocks went Up today. This is the 2nd day of strong breadth in the past 10 days. Could lead to a pullback, but the S&P was consistently higher 2 months later ⬇️

More than 96% of S&P 500 stocks went Up today.

This is the 2nd day of strong breadth in the past 10 days.

Could lead to a pullback, but the S&P was consistently higher 2 months later ⬇️
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Update: AAII Bears is at 55.6% This is the 9th consecutive week with over 50% Bears A new record streak of bearish sentiment

Update: AAII Bears is at 55.6%

This is the 9th consecutive week with over 50% Bears

A new record streak of bearish sentiment
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NASDAQ 100 is on track to climb above its 200 day moving average for the first time in 2 months. Tends to be bullish for stocks over the coming months ⬇️

NASDAQ 100 is on track to climb above its 200 day moving average for the first time in 2 months.

Tends to be bullish for stocks over the coming months ⬇️
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NYSE Advance-Decline Line is on track to hit a new all-time high today — its first in over 100 days. Breadth is leading the market higher.

NYSE Advance-Decline Line is on track to hit a new all-time high today — its first in over 100 days. 

Breadth is leading the market higher.
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VIX is on track to close below 20 today, after being above 45 a month ago Here’s what the S&P 500 did after similar setups 👇

VIX is on track to close below 20 today, after being above 45 a month ago

Here’s what the S&P 500 did after similar setups 👇
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NYSE Advance-Decline line came close to making a new all-time high today, but not quite there. 769 net advances left to go! x.com/WalterDeemer/s…

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Yesterday saw a DeGraaf Breadth Thrust (55%+ of S&P 500 stocks hit a 20 day high). 3 weeks ago we got a Zweig Breadth Thrust. Here's what happens when we get both Thrusts within a month of each other:

Yesterday saw a DeGraaf Breadth Thrust (55%+ of S&P 500 stocks hit a 20 day high).

3 weeks ago we got a Zweig Breadth Thrust.

Here's what happens when we get both Thrusts within a month of each other:
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Can we get a pullback? More than 24% of NASDAQ 100 stocks are overbought (RSI above 70). Since COVID, that's led to a 1 week pullback ⬇️

Can we get a pullback?

More than 24% of NASDAQ 100 stocks are overbought (RSI above 70).

Since COVID, that's led to a 1 week pullback ⬇️
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The S&P 500 is now -3% below its all-time high. Last month it was -18% below its all-time high. These quick recoveries tend to see stocks rally more over the next 3-12 months. Momentum is strong.

The S&P 500 is now -3% below its all-time high.

Last month it was -18% below its all-time high.

These quick recoveries tend to see stocks rally more over the next 3-12 months.

Momentum is strong.