FINANCIAL ICEBERG
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 TECHNICALS
SP500 (SPY ETF): Still an Atypical Market? 
May 29 2017 ( From  TradeView, CNN Money )
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The SP500 Index (​​SPY ETF) is back above the previous Weekly
​Break Out Trendline that is critical for Bulls and still Into a
​Weekly Uptrend Channel. 
(See first chart below - Channel+ ​Blue line)

SPY ETF closed last Friday at its highest level ever.​ Interesting
​to observe that the mood of the market participants is only at
​the Greed Zone (according to ​as the Fear and Greed Index from CNN Money), a Level of 58.

​A few obervations on the market behavior and the SP500 worth noticing lately:
1) SPY ETF new high ever last week compare to previous top (week of February 27 2017) is not confirmed by the  OBV (On Balance Volume Indicator).​​ ​(See first chart below - Bottom Panel - OBV)

2​) The Momentum of the market ​​is quite strong as the Momentum ETF (MTUM) is outperforming on a Relative Basis the SP500 Index (daily ratio of MTUM ETF over SPY ETF) and now back at the Major Daily Resistance Trendline that started back on April 28 2014. (See Second Chart Below - Resistance Trendline - Red)

3) The Risk Taking behavior (according to the ratio of SP500 High Beta stocks - SHBP ETF- to the SP500 Low Beta Stocks - SPLV ETF) is back below the US Election on the Trumpification of Financial Markets. ​ ​(See Third Chart Below - Top Panel - Daily Candles)  We are now below the 200 DMA (Day Moving Average on that ratio.
(See Third Chart Below - Green Line)

​​​​4) ​Surprisingly after the Trumpification of the Financial Markets, the SP500 Value Stocks (IVE ETF) were unable to keep the momentum going on and have been under performing the SP500 Growth Stocks (IVW ETF) since December 12 2016 (daily ratio of IVE ETF over IVW ETF). Lowest level since January 26 2016 on that ratio.
(See Fourth Chart Below)

5) Also, we must realize that the Mighty SP 500 Index (SPY ETF) is under performing tremendously since the December 26 2016 week the large and mid capitalization of non US equities ( ACWX -iShares MSCI ACWI ex U.S. ETF ) on a Relative basis (weekly ratio of SPY ETF over ACWX ETF). Now at Major Weekly Support Trendline that started on December 31 2012. (See Fith Chart Below)

What we must realize is that the market is full risk on, it is behaving quite into an atypical manner: The market is having a strong Momentum but the Mood from Market Participants is not at the Extreme Greed Level. High Betas Stocks under performing Low Betas Stocks. Also, Value Stocks do not perform well compare to Growth Stocks. Small Capitalization Stocks not doing well against Big Capitalization Stocks (not shown). 

​​In fact, the market is full Risk On and embracing one and only one main investment theme here:
​Big Capitalization Technology exposure stocks (Technology, Social Media, Internet...). Still an Atypical Market but not for the ones who followed the 1999-2001 period...

SP500 (SPY ETF): Atypical Market?   $SPY  #Trading #risk #spy #investing #stocks

Financialiceberg.Com
Weekly Chart
​SP500 Index ( SPY ETF - Top Panel - Candles )
​OBV ( On- Balance Volume Indicator - Bottom Panel )​​

Daily RATIO
High Beta (SPHB) - Low Beta (SPLV) ETFs​ ( Candles - Top Panel )
​20 DMA ( Day Moving Average - Yellow Line )
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​​​
Financialiceberg.Com
Financialiceberg.Com
Daily Ratio (Candles)
MTUM ETF (iShares Edge MSCI USA Momentum Factor ETF)​
over

SP500 Index (​​SPY ETF)
Daily RATIO (Candles)
SP500 Value Stocks​ (IVE ETF)
over

​SP500 Growth Stocks (IVW ETF)​
​20 DMA ( Day Moving Average - Yellow Line )
50 DMA ( Day Moving Average - Red Line )​​
200 DMA ( Day Moving Average - Green Line )​​​

Financialiceberg.Com
Weekly Ratio (Candles)
SP500 Index (SPY ETF)
over

iShares MSCI ACWI ex U.S. ETF (ACWX ETF)​
​4 DMA ( Week Moving Average - Yellow Line )​
12 DMA ( Week Moving Average - Red Line )​​
52 DMA ( Week Moving Average - Green Line )​
Financialiceberg.Com