SPY & QQQ intraday chart observations by rimshot

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Strategies & Market Trends SPY & QQQ intraday chart observations by rimshot

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To: rimshot who wrote (1225)	2/25/2023 1:20:42 PM
From: rimshot	1 Recommendation of 1309

3949.xx = 200-day SMA current value for the /ES emini as of Friday's close vs. 3947.50 Friday's low of day for /ES 3940.12 = $SPX 200-day SMA current value only approx. 30 minutes of price action hovered near the /ES 200-day SMA before price bounced 3982.28 = /ES daily 21,2 lower Bollinger Band current value vs. 3974.50 Friday's 5:00 pm ET close 3992 to 3995.xx = the Volume Point of Control current values looking back 90, 180 and 360 trading days using Volume by Price analysis at the most detailed level ( software accomplishes this task ) updated screenshot of the /ES Daily chart showing the range since 10/10/22 with the daily 21,3 Bollinger Band - screencast.com SPY tagged its declining tops trend line on Friday, but did not violate it ... see the daily chart set with T/L's at the bottom of this post $SPX 3946.89 = 150-day SMA current value at Friday's close ... the 150 was only briefly violated on Friday, Feb 24 $SPX daily closes chart with selected moving averages - stockcharts.com declining tops trend lines for five US index ETF's - stockcharts.com stockcharts.com stockcharts.com stockcharts.com stockcharts.com

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From: rimshot	2/25/2023 1:36:04 PM
	1 Recommendation of 1309

Helene's poll Saturday morning shows: 56% betting down 43% betting up for next week ending March 3, 2023 here is her updated Net Sentiment chart incl today's Poll stat - * this represents 5 consecutive weeks of negative sentiment pbs.twimg.com

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To: rimshot who wrote (1235)	2/25/2023 1:51:41 PM
From: rimshot	1 Recommendation of 1309

$SPX cash index 3934/35 level, when seen, represents a closing basis priority watch level for me ... if prices continue a bit lower than seen on Friday

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To: rimshot who wrote (1236)

2/25/2023 2:53:04 PM

From: rimshot

Morgan Stanley says the S&P 500 could drop 26% in months

Expensive US equities are flashing a warning sign that could see the S&P 500
sliding as much as 26% in the first half of this year,
according to Morgan Stanley strategists.

==================================================

" Theoretically, stretched valuations are no hurdle for equities as long
as corporate profits are able to catch up.

Whether that will happen again this time is the biggest question facing equity investors today.
In the eyes of Ed Yardeni, the founder of his namesake firm,
the PEG ratio reflects two warring narratives —
one showing investors are willing to look past any short-term roadblocks and pay up for stocks,
and another reflecting mounting skepticism over growth.

“It’s signaling caution because you got a tug of war between the relative pessimism
of analysts and the relative optimism of investors,” Yardeni said.

“It may just turn out that it’s a tug of war where neither side makes any progress,
which is what it could be for a little while.”

Since June, the S&P 500 has been mostly stuck in an 800-point band,
creating headaches for bulls and bears alike.
Over the stretch, the index’s closing prices averaged at 3,939 —
about 30 points away from where it ended Friday.

With the benchmark gauge surging as much as 17% from its October low,
some market watchers have viewed the rebound as the start of a new bull market.

To David Donabedian, chief investment officer of CIBC Private Wealth US,
it’s too early to call the all-clear given stocks have yet to start looking like bargains.
“It didn’t say that back in October either when we had the beginning of this market rally,
” Donabedian said.

"So to me, we have not seen that capitulation phase that every bear market
has where investors throw in the towel, give up hope and you get a market
that looks objectively inexpensive. We’re not there yet.”

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To: rimshot who wrote (226)	2/25/2023 3:40:48 PM
From: rimshot	1 Recommendation of 1309

Nasdaq 100 Percentage of individual stocks having rising PMO's is now 11%, at Friday's Feb. 24 close ... * following a weekly gap down, the chart history shows this PMO rising metric often bottoms & reverses back up in the following week OR in the second week or at worse case in the third following week weekly chart of Percentage of $NDX components having rising PMO's - stockcharts.com

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To: rimshot who wrote (1130)	2/25/2023 4:23:40 PM
From: rimshot	of 1309

both NYSE McClellan Oscillators' daily values have printed Negative for 12 consecutive days: 1. NYSE All-Issues McClellan Oscillator 2. NYSE Common-Stocks-Only McClellan Oscillator * the All-Issues & the CSO Advance-Decline lines *remain in a mildly vulnerable* bullish setup** for now because they rest above their rising 50-day SMA's stockcharts.com stockcharts.com * Note the McClellan Oscillator values displayed Positively Divergent higher lows in October 2022 vs. the September 2022 lows ... institutions closely watch for McO prints that display Pos Divg or Neg Divg chart #2 - daily chart of net Advancers minus Decliners count is shown here for six different indices - stockcharts.com for the NYSE All-Issues data set, February 21, 2023 was the most negative daily net Advance-Decline print so far in 2023 ... at negative 2,337 on Feb. 21 vs. negative 1,297 on Feb. 24

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To: rimshot who wrote (1177)	2/28/2023 4:18:54 AM
From: rimshot	1 Recommendation of 1309

Scott's daily ROC-25 charts for each major index, smoothed with two moving averages for the purposes of: 1. ROC-25 moving average crossover vigilance ( ROC stands for Rate of Change ) & 2. zero line crosses by either one of the two ROC moving averages are in a bullish location if above the ROC zero line and in a bearish location if below the ROC zero line ... which are optimally both required to confirm the probable directional Staying Power of any future upward or downward price action * the ROC-25 smoothed with the 55-day EMA and also smoothed with the 5-day EMA are pointing downward toward the ROC zero line for all indices, with the exception of the ROC-25 55-day smoothing for the $COMPQ ROC-25, updated for Monday's February 27, 2023 close stockcharts.com stockcharts.com stockcharts.com stockcharts.com stockcharts.com * Note - veteran technicians consider the $VLE technicals as especially reliable for divining the US market direction ( RIP Scott Stringer, master student of the math aspect of price analysis ) complimentary chart - stockcharts.com shown above is a daily chart showing the cumulative version of the McClellan Oscillator for the NYSE Common-Stocks-Only data set which currently shows the cumulative McO pointing downward toward the cumulative McO zero line and also below its rising 30-day simple moving average for a considerable # of trading days, which represents a warning sign for the ongoing health status of the US equity market and is what I consider an item not to ignore, as Arthur Hill, CMT likes to say for special warnings when they occur Message #74307 from rimshot at 12/1/2022 9:21:39 AM Scott's 233,1 EMA applied to the SPY daily closes chart - stockcharts.com ( as stated in prior months, Scott is now deceased nearly two years ) Note - SPY price history is adjusted downward by the amount of each SPY quarterly dividend, so the price history will not match what Fidelity or ThinkOrSwim charts display Message #1177 from rimshot at 1/21/2023 2:49:40 PM Scott's daily charts for five indices showing the ROC-25 smoothed with the 5-day EMA & 55-day EMA for trend interpretation of the positive or negative net Buying Power when compared to the ROC zero line - * Scott (RIP) smoothed the ROC in order to avoid trend identification whipsaw SPY - 5 EMA has risen since Jan. 9 and both EMA's rest near zero line all of this week $SPX - 5 EMA has risen since Jan. 9 and both EMA's rest near zero line all of this week $VLE - both EMA's rest above zero line for 2 weeks $NYA - both EMA's rest above zero line for 2 weeks $COMPQ - both EMA's rest below zero line since mid-December ... rising since early January " The Rate-of-Change oscillator measures the speed at which prices are changing. An upward surge in the Rate-of-Change reflects a sharp price advance. A downward plunge indicates a steep price decline. Sustained advances often start with a big surge out of the gate. Subsequent advances are usually less sharp and this causes a bearish divergence to form in the Rate-of-Change oscillator. It is important to remember that prices are constantly increasing as long as the Rate-of-Change remains positive. " ( StockCharts.com )

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To: rimshot who wrote (1235)	2/28/2023 4:28:18 AM
From: rimshot	2 Recommendations of 1309

4014.xx = the /ES Volume Point of Control current value looking back 30 trading days 4005.60 = the Volume Point of Control current value looking back 10 & 5 trading days 3992 to 3995.xx = the Volume Point of Control current values looking back 90, 180 and 360 trading days using Volume by Price analysis at the most detailed level ( software accomplishes this task ) * all values updated for the Monday February 27, 2023 5:00 pm ET close

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To: rimshot who wrote (942)	3/4/2023 10:55:41 AM
From: rimshot	3 Recommendations of 1309

Larry McMillan - Friday March 3, 2023 mid-day market Wrap - optionstrategist.com NFP economic release in the US is unusually scheduled for the 2nd Friday in March - March 10, 2023

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To: rimshot who wrote (1242)	3/4/2023 2:38:45 PM
From: rimshot	2 Recommendations of 1309

403.89 = SPY 600-day SMA current value * as of Friday's March 3, 2023 close SPY daily chart with select Moving Averages and indicators and internal metrics for: 1. the S&P 500 index 2. the NYSE stockcharts.com

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