• 657 days Will The ECB Continue To Hike Rates?
  • 657 days Forbes: Aramco Remains Largest Company In The Middle East
  • 659 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,059 days Could Crypto Overtake Traditional Investment?
  • 1,063 days Americans Still Quitting Jobs At Record Pace
  • 1,065 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,068 days Is The Dollar Too Strong?
  • 1,069 days Big Tech Disappoints Investors on Earnings Calls
  • 1,070 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,071 days China Is Quietly Trying To Distance Itself From Russia
  • 1,072 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,076 days Crypto Investors Won Big In 2021
  • 1,076 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,077 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,079 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,079 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,083 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,083 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,084 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,086 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

  1. Home
  2. Markets
  3. Other

Market On Major Supports Both Models In Sell Mode

The market printed a lower low on Wednesday, but remains above early April low. If the market is able to go through the pink support, we believe it could quickly drop until the blue horizontal support.

Sigma Whole Market Index

If we take a longer time horizon, we can notice that the Sigma Whole Market Index is now on its 50 days MA (red line on the chart below). In the past, this MA acted as a powerful support to the market.

Sigma Whole Market Index

Looking at our indicators, the Swing moved again to '1', and the Sigma Trend Index moved back in negative territory:

Sigma Table

Our short term model remains in sell mode for both the SPX and the NDX:

SPX tabe

NDX Table

Our medium term momentum index remains in sell mode (blue line below the red line):

Medium Term Momentum Index


Conclusion:

Both our short term and our medium term models are in sell mode. Nevertheless, the market is now on strong supports, and it won't be easy to move below those levels.

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 1/2 SPX at 1560.15
- Short 1/2 NDX at 2805.45
- short 1/2 CAC40 at 3754.88

Medium term positions:
- short 3 SPX at 1446.09
- Short 1 NDX at 2758.8
- short 2 CAC at 3251.07

 

Back to homepage

Leave a comment

Leave a comment