FINANCIAL ICEBERG
Always consider hidden risks
​
 TECHNICALS
US Stock Indices Technicals: Generals in Full Retreat?
 March 15 2016 ( From TradingView )
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The Situation

We have been in one of the most Bullish Stock Market ​in history 
​since 2009.​ The Mighty SP500 Index from a ​low in March 2009
​of 
​666.79 to the high ever on May 2015 ​at 2134.71 rose by a
​factor 
​​of 3.2 spurred by low interest ​rates and strong buybacks
​from 
​US corporations.


In fact, when we broke a Rising Wedge Pattern on ​August 21 2015​, ​​
​game was over on SP500 on a short ​term basis and then ​reached
​then the panic ​selling level ​on August 24 at 1867.01. ​​( See Chart Below - Bottom Panel )


Since then, market internals continue to deteriorate...

In fact, the top 100 stocks of the SP Index is under performing the Mighty SP1500 Index since February 8 2016 week. Looking at the ratio of the SP100 Index over the SP1500 Index: earlier bottom on this ratio (First chart below - vertical lines), was when we had some consolidation... Not this time... And we are at the support trendline from an uptrend channel (First chart below - Top Panel - Ellipse)
​​
​Same pattern for the NASDAQ: the top 100 stocks is under performing the ​NASDAQ Composite index. ​​
​Looking at the ratio of the NASDAQ100 Index over the NASDAQ Composite Index. ( See second chart below )

​​Also, there is a developing strenght among “equal-weight” indexes versus their comparable cap-weighted versions as the equal-weight SP500 Index started to outperform tremendously since January 18 week 2016 and now at the resistance trendline (Third chart below - Top Panel - Ellipse)... So more stocks is participating to the rally...

And if you wonder what the Big Picture looks like; well taking the ratio of SP100 (The Generals) over the SP500 on a weekly basis, we broke the resistance from a falling wedge that started back since 2001.
​ ( See fourth chart below )

​​In Summary, we have now Generals in Full Retreat but at support trendlines​​ as most of the soldiers did better performance wise lately.... That was the full risk on phase...
​






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US Stock Indices Technicals: Generals in Full Retreat? $SPY #investing #spy #SP500  








Weekly RATIO

SP100  Index​

over​

​SP1500 Index  ( Top Panel - Candles )

and 
​SP500 Index​ ( Bottom Panel ) 


Financialiceberg.Com


Financialiceberg.Com


Weekly RATIO

SP500 Equal-Weighted Index​

over​

​SP500 Index ( Top Panel - Blue Line )

and 
​SP500 Index​ ( Bottom Panel ) 


Weekly RATIO 
​NASDAQ100 Index


over​

​NASDAQ Composite Index  ( Top Panel - Candles )


​



Financialiceberg.Com



Weekly RATIO 
SP100  Index​ 
over​ 
​SP500 Index ( Top Panel - Candles ) 
and 
​SP500 Index​ ( Bottom Panel ) 


Financialiceberg.Com