.SPX: What's Going on Next?

$S&P 500(.SPX)$ thoughts: Week over week market breadth continues to get worse. Throughout all of last week, more stocks made new lows than new highs.

I frequently post about breadth, however in my analysis there is three criteria that determine a risk-off environment. Breadth as a stand-alone measure is insufficient.

1. Price below the short term trend

2. Negative breadth, represented by Net New Highs across NYSE and Nasdaq markets (middle panel)

3. Negative Momentum, using the Percentage Price Oscillator (lower panel)

When all three trigger, the market shifts to a risk off environment making a decline the next most probable move.

Ending last week (and the two weeks before) only 1 of 3 criteria remain active. Similar to the post at the beginning of the month, it remains premature to take a bearish stance.

Follow me to learn more about analysis!!

https://x.com/tomthetrader1

Macro Trend

Monetary policy, various types of price indices... Here is everything about the macro economy!

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":320302614896648,"tweetId":"320302614896648","gmtCreate":1719208261010,"gmtModify":1719211858761,"author":{"id":4159926202661862,"idStr":"4159926202661862","authorId":4159926202661862,"authorIdStr":"4159926202661862","name":"tomthetrader1","avatar":"https://community-static.tradeup.com/news/7e296cba5c129d051f2a4b696084b92c","vip":8,"userType":8,"introduction":"I manage my portfolio primarily through the lens of technical analysis— drawing lines on a chart. \n","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":165,"starInvestorFlag":false},"themes":[{"themeId":"4143db0c6a084fb6bb4cba1db09bcbb5","categoryId":"7cf744760f454845a1870a05ea4e151d","name":"Macro Trend","type":0,"rnLink":"https://laohu8.com/RN?name=RNTheme&page=/theme/detail&rndata={\"themeId\":4143db0c6a084fb6bb4cba1db09bcbb5}&rnconfig={\"headerBarHidden\": true}","description":"Monetary policy, various types of price indices... Here is everything about the macro economy!","image":"https://static.tigerbbs.com/b92fcdcbb675f48af67c8cfbd53f43a3"}],"images":[{"img":"https://community-static.tradeup.com/news/a7965f4ca3c0ee381253fa469bc532db","width":"900","height":"561"}],"coverImages":[{"img":"https://community-static.tradeup.com/news/a7965f4ca3c0ee381253fa469bc532db","width":"900","height":"561"}],"title":".SPX: What's Going on Next?","html":"<html><head></head><body> <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\"S&amp;P 500\" href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a> thoughts: Week over week market breadth continues to get worse. Throughout all of last week, more stocks made new lows than new highs. I frequently post about breadth, however in my analysis there is three criteria that determine a risk-off environment. Breadth as a stand-alone measure is insufficient.1. Price below the short term trend2. Negative breadth, represented by Net New Highs across NYSE and Nasdaq markets (middle panel)3. Negative Momentum, using the Percentage Price Oscillator (lower panel)When all three trigger, the market shifts to a risk off environment making a decline the next most probable move. Ending last week (and the two weeks before) only 1 of 3 criteria remain active. Similar to the post at the beginning of the month, it remains premature to take a bearish stance.<img src=\"https://community-static.tradeup.com/news/a7965f4ca3c0ee381253fa469bc532db\" tg-width=\"900\" tg-height=\"561\">Follow me to learn more about analysis!!https://x.com/tomthetrader1</body></html>","htmlText":"<html><head></head><body> <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\"S&amp;P 500\" href=\"https://ttm.financial/S/.SPX\">$S&amp;P 500(.SPX)$</a> thoughts: Week over week market breadth continues to get worse. Throughout all of last week, more stocks made new lows than new highs. I frequently post about breadth, however in my analysis there is three criteria that determine a risk-off environment. Breadth as a stand-alone measure is insufficient.1. Price below the short term trend2. Negative breadth, represented by Net New Highs across NYSE and Nasdaq markets (middle panel)3. Negative Momentum, using the Percentage Price Oscillator (lower panel)When all three trigger, the market shifts to a risk off environment making a decline the next most probable move. Ending last week (and the two weeks before) only 1 of 3 criteria remain active. Similar to the post at the beginning of the month, it remains premature to take a bearish stance.<img src=\"https://community-static.tradeup.com/news/a7965f4ca3c0ee381253fa469bc532db\" tg-width=\"900\" tg-height=\"561\">Follow me to learn more about analysis!!https://x.com/tomthetrader1</body></html>","text":"$S&P 500(.SPX)$ thoughts: Week over week market breadth continues to get worse. Throughout all of last week, more stocks made new lows than new highs. I frequently post about breadth, however in my analysis there is three criteria that determine a risk-off environment. Breadth as a stand-alone measure is insufficient. 1. Price below the short term trend 2. Negative breadth, represented by Net New Highs across NYSE and Nasdaq markets (middle panel) 3. Negative Momentum, using the Percentage Price Oscillator (lower panel) When all three trigger, the market shifts to a risk off environment making a decline the next most probable move. Ending last week (and the two weeks before) only 1 of 3 criteria remain active. Similar to the post at the beginning of the month, it remains premature to take a bearish stance. Follow me to learn more about analysis!! https://x.com/tomthetrader1","highlighted":1,"essential":1,"paper":2,"likeSize":11,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/320302614896648","repostId":0,"isVote":1,"tweetType":1,"viewCount":519,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[".SPX"],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":true,"length":744,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/320302614896648"}