• SPX Monitoring purposes;  Short SPX on 6/15/18 at 2779.42.
• Monitoring purposes Gold: neutral.
• Long-Term Trend SPX monitor purposes: Neutral.

The bottom window is the 3 period moving average of the TRIN. Readings near 1.50 and higher on this average, showed panic, and a market low was near a buy. Current reading is 1.15 and not at a level where worthwhile lows are formed. Today’s decline broke a new recent low and then closed above the previous low, which suggests a bounce is possible in the short term. Market may test Friday’s high (which had high volume) and if tested on lighter volume will suggest a resistance and the market may turn back down. Looking for panic in the TRIN and Ticks to cover our short position which could come in the 2700 SPX area. 

The above chart measures the momentum in the advance decline line and helps us in showing when the market is going to get stronger or weaker. The bottom window is the NYSE Advance/NYSE Decline issues with a 4 period MA. Readings below 1.25 have been a bearish sign for the market (current reading is .95). The next window up is the NYSE Advancing issues with 4-day average (blue) and NYSE declining issues with 4-day average (red). When the blue line is on top then an uptrend is in progress; when red line is on top then a decline is in progress. As of today, the red line is above the blue line and that is a bearish sign. On Friday, this indicator was dead-neutral, so since Friday, this indicator has tilted towards the bearish camp. On the top window is the McClellan oscillator; readings below “0” are bearish and today’s reading came in near minus 2.

The second window up from the bottom is the Cumulative Advance/Decline. A bullish signal is present when Cumulative A/D closes above the mid Bollinger band. It closed above the mid Bollinger Band late last week, but closed below it on Friday (this indicator won’t be updated until later tonight, so today’s close is unknown). On the next window up is the cumulative Up Down Volume and a bullish signal is generated when it closes above its mid Bollinger band; it too closed below its mid Bollinger band on Friday and  went back in bearish territory. Any short-term strength in GDX might push both Cumulative Advance/Decline and Up Down Volume indicators into a bullish territory and create a buy signal. On the bottom window is the GDX/GLD ratio which is making higher highs and higher lows and there is a bullish sign for GDX (GDX/GLD ratio leads GDX). We should be patient for now.