Markets Macro Technicals Sven Henrich

May Charts Part I

May 15, 2015

Despite an over $60 trillion increase in global debt and massive central bank balance sheet expansion several key global market indices are in downtrends with lower highs and prices actually below 2007 highs: $NYSE, Global Dow Jones index ($DJW) and the $FTSE All World index ($FAW):

NYSE FAW DJW

$XVG: Perhaps the Geometric Value Line index has already made a decision with a 5 EMA rejection and a quarterly MACD crossover:

XVG

May 14, 2016

$NDX weekly: Can you hear me now???

NDX W

$SPX monthly:

SPXM

$VIX closed above its 50MA while $SPX closed below its 50MA:

VIX

May 13, 2016

Closing Print $NYSE: The weekly 100MA rejection stands. $NYSE also closed below the weekly 50MA and is below 2013 highs. So riddle me this: Why is this called a bull market if the broader market is below the highs from 2.5 years ago?

NYSE

$SPX weekly:

SPX W

Dow Jones Global Index:

DJW

$BPSPX:

BPSPX

OPEX thrust or bust?

OPEX

$SPX versus $XRT (retail):

$SPX vs XRT

$NYSE High/Lows:

NYHILO

May 12, 2016

$SPX weekly: Going nowhere still

$SPX W

$RUT monthly:

RUT M

$NYSE: remains below 2007 highs and its monthly 25 MA:

NYSE

$NDX weekly:

NDX W

$AAPL: Key support

AAPL

$DJIA:

DJIA

The big bad chart of negative divergences: $SPX versus insider buying, equal weight, $SPY versus $IWM, 10 year yield, cumulative new highs vs new lows, earnings yield and retail:

divergences

May 11, 2016

$SPX closing print:

SPX RM

Dispelling a myth: A low AAII bull read is not necessarily bullish. It wasn’t last summer:

AAII B

Nasdaq new highs – new lows context:

NAHL

44% of $NDX stocks are below their 200MA:

NDX 100

$SPX versus 10 year yield & earnings yield:

SPX 10

$SPX vs GAAP earnings update:

GAAP

$FAW: All world index. 7,400 companies. Monthly chart:

FAW All World

Measured move update, see also The Big Move for further details:

SPX MM

$DIS:

DIS

$AMZN: Negative divergence

AMZN

May 10, 2016

Closing print: The regularly scheduled OPEX front run program appears well on its way as volatility is being crushed well in advance. I essence markets appear to replay the same volatility structure of last year. Along with a complete lack of volume this set-up favors buyers for now unless markets deviate from the structure:

VIX

3 large negative divergences. High/low cumulative, equal weight and insider buying vs $SPX:

div

$RSP:SPY versus $SPX:

RSP

OPEX magic script back on?

OPEX

$DJIA weekly:

DJIA W

$SPX quarterly: Converging support at risk of an MA crossover on a break below:

SPXQ

May 9, 2016

$SPX closing print: Rejected at daily 8MA and 5EMA:

SPX D

$NYSI: Stocks are not oversold

NYSI

$XVG – Value line geometric index has not confirmed the recent rally and shows a quarterly 5 EMA rejection so far:

XVG

M1 money supply just printed another new all time high:

M1

$ES – bullish wedge with potential to retest recent highs versus potential heads and shoulders with a target of 1963:

ES

May 8, 2016

Tech charts: $QQQ, $COMPQ, $NDX:

COMPQ NDX QQQ

May 7, 2016

$BPSPX close on Friday:

BPSPX

May 6, 2016

$SPX vs insider buying:

INSAX

$NDX weekly:

NDX

$SPY OPEX chart updated:

OPEX

NYSI weekly:

NYSI

$FAW global index updated:

FAW

$NYHILO:

NYHILO

Dow Jones Global index: $DJW

DJW

May 5, 2016

Closing print $SPX: A bounce from here could build a potential right shoulder. Without a bounce a break could target the .382 fib. Both scenarios leave room for further downside evolving before larger oversold conditions develop:

SPX

$BKX: Moving averages matter.

BKX

$VIX:

VIXD

$SPX: A key level to watch is the monthly 25 MA:

SPX M

$SPY:

SPY

$ES:

ES

May 4, 2016

Basic pullback so far, but $SPX remains below November and December highs and trend line breakout has been rejected:

SPX

$QQQ:

QQQ

$BPSPX:

BPSPX

$ES:

ES

$DAX:

DAX

 

May 3, 2016:

Closing Print: $FTSE all world index

FAW

$NYSE:

NYSE W

$NDX:

$NDX

$BPSPX:

BPSPX

$NYHILO:

NYHILO

$AAPL: Key time

AAPL

$SPY:

SPY

May 2, 2016

Closing Print: New month inflows provided a bounce into daily 5 EMA reconnects. $QQQ bounced off of lower its Bollinger band:

QQQ

$SPX vs $VIX:

SPX VIX

M1 backed off of all time highs in April. Trend still intact.

M1 money supply

$NDX stocks above their 50 and 200MAs:

NDX 200 NDX 50


$AAPL:

AAPL W

AAPL

$ES:

ES4

$NYSE:

NYSE M

May 1, 2016

$NDX monthly:

NDX M

Two $RUT charts with the same message:

RUT W RUT M2

Positive cumulative advance/decline meet cumulative new highs versus new lows:

cum adv:dec

USHL

$GS monthly

GS M

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