Mark Ungewitter (@mark_ungewitter) 's Twitter Profile
Mark Ungewitter

@mark_ungewitter

Specialist

ID: 710385329811886080

calendar_today17-03-2016 08:40:35

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SPX trend channel. Upper boundary extends to 6970 by year-end 2025. Not a forecast, but also not implausible given breadth thrust and price momentum following April reset.

SPX trend channel. Upper boundary extends to 6970 by year-end 2025. Not a forecast, but also not implausible given breadth thrust and price momentum following April reset.
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In recent decades, 50-day breadth momentum has confirmed nearly all durable advances following significant drawdowns. The indicator is currently 72% at day 43, so a broad 7-day rally is needed to generate a bullish signal. Absence of a signal, however, is not necessarily bearish.

In recent decades, 50-day breadth momentum has confirmed nearly all durable advances following significant drawdowns. The indicator is currently 72% at day 43, so a broad 7-day rally is needed to generate a bullish signal. Absence of a signal, however, is not necessarily bearish.