Market Timing Summary:
Market Timing Direction: NEUTRAL
|Market Breadth Pattern||Neutral||There was not much accumulation today even if the indexes were grinding higher. Only around 50 stocks were considered accumulated. SPX reached day’s High right at a trend line connecting swing highs in May. These are not good signs for the bull camp.
In any case, we are still in a Range-bound market state, it is neither Strong nor Weak. Thus the modest fall in SP500 index since early May might reverse, even if temporarily.
|Primary Market Breadth||Neutral||The difference between NAHL and its 20 days moving average is narrowing. If we see some more breakdown to 52 week lows, the primary trend will be switched to Bearish.|
|Monetary Conditions||Bullish||Monetary base keeps being added into the system significantly. Similarly, short-term interest is still much lower than longer term interest rate. Thus, Interest Rate Pump factor continues to rise.|
Note: Any change from previous day summary is highlighted in blue.
Click on the following links for information on Market Timing Analysis in general, guides on Market Breadth Pattern, Primary Market Breadth, and Monetary Conditions, and Track Record of the Market Timing tool.