Hello Everyone,
No major technical changes to the market discussed in my weekend newsletter analysis/video. The major indexes closed positive today with the SPX gaining roughly 1/2 percent, while the Nasdaq gained 0.6%, while the Dow Jones and Russell closed mostly flat.
Things of note: Bollinger Bands are pinching on the VIX and it is now uncorrelated to the S&P 500, this can happen near inflection points. The 60 min chart of QQQ and SPX have made divergence on this latest push higher. The VIX pushed higher along with the SPX. I also put out a couple hedge ideas (DOG and SPXU).
The market is in holiday mode and the 'bulls' still control the football, which they intercepted in late October and have run multiple touchdowns since. The move off the late October lows produced a rare 'Breadth Thrust' signal that has played out. I'm not going to over analyze the market this time of year, the trend is up and has remained up. Our KISS systems have nailed a lot of this move and provide smart trailing stop protection for you to continue riding the trend, while having a smart trailing stop exit plan.
The KISS Systems for the indexes and many large cap stocks have been long since October just off the lows and are doing well. The KISS systems did their job avoiding a lot of the correction and going back long 2 to 3 days off the lows, thus capturing this rally with protection. KISS STS Tables for Indexes, ETF's, Stocks
have a great night!
Matthew Frailey
