FINANCIAL ICEBERG
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 TECHNICALS
US Stock Indices Technicals: When Generals don t Lead?
 March 31 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 that do not lead but at support trendlines​​ as most of the soldiers did better performance wise lately.... That was the full risk on phase... That tells me that Institutional Investors are selling when Retail Investors are buyring the stock market...


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US Stock Indices Technicals: When Generals don t Lead? $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