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Top of the Uptrend, Euphoria at 41pct

The Sigma Whole Market Index (aggregate of 16 US indexes) closed Friday near the top of its uptrend.

Sigma Whole Market Index

The Sigma Trend Index is at '98'.

The Trend Level (TL) is at '5' for the sixth consecutive day. This is the highest level of overheating I've seen for a long time.

Sigma Table

Looking at our Euphoria Index, we are now at 41%. This level is just unsustainable:

Euphoria versus Panic Level


Conclusion:

If we combine the fact that the market is at the top of its uptrend, and the current level of euphoria, we are probably very close to a pullback/correction in the market.

For those of you interested in our intraday move, you can visit our site during the day: we post all our trades in real time. You can also subscribe to our twitter account (@SigmaTradingOsc), it is free and you are updated on our latest view/trades.

Short term positions:

  • short 1 SPX at 1458.12
  • short 1 NDX at 2849.22

Medium term positions:

  • short 2 SPX at 1336.99
  • short 1 NDX at 2578.46
  • short 1.5 CAC at 3103.87

 

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