View From The Hill (Jan-11-2016): Oversold Equity Markets With More Potential Downside

Posted on Posted in Views From The Hill

Commentary

bulls-and-bears4There will be no commentary summary for Monday’s report. Please see remarks for the Market Condition.

No further comments…

 


Performance Summary

*Trends: ST = short-term; MT = Intermediate-term; LT = long-term

vfth-performance-1-11-2106
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Market Condition

Equity markets are oversold, and despite today’s establishment of support at the important psychological level @ 1900, I still suspect more downside. More than half of the SP-500 components which closed positively did so on shrinking volume. However, there is potential for a short-term rally to @ 1965-1970 levels. The trends are bearish and 1860 and 1820 remain on my radar for support tests.

Hillbent on the Market Direction…

 

Daily Chart Technical Analysis
sp500-daily-1-11-2016
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SP-500 Market Breadth
Advancers 245 Decliners 256
New 5-day highs 26 New 5-day lows 341
New 52-week highs 1 New 52-week lows 110
Bullish reversals 130 Bearish reversals 10

 

SP-500 Market Momentum
% > 20 M.A. % > 50 M.A. % > 100 M.A. % > 200 M.A.
12% 14%
24%
24%
↑ = positive momentum; ↓ = negative momentum; and ↔ = neutral momentum

 


Volume Radar Alerts

  • Vol % = volume percentage greater than average volume
  • SIR = short interest ratio or days to cover
vfth-volume-radar-1-11-2016
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Disclaimer

Hillbent does not provide individualized market advice. The information we publish regards securities in which we believe our readers may be interested and our reports reflect our sincere opinions. Nevertheless, they are not intended to be personalized recommendations to buy, hold, or sell securities. Investments in the securities markets, and especially in options, are speculative and involve substantial risk. Each individual investor should determine their respective appropriate level of risk. It is recommended that you seek personal advice from your professional investment advisor and conduct further independent due diligence research before acting on information published in any of our reports. Most of our information is derived directly from information published by the companies on which we report and/or from other sources we deem to be reliable, without our independent verification. Therefore, we cannot assure the completeness or accuracy of information contained within these reports and we do not in any way warrant or guarantee the success of any action which you take in reliance on our statements. Hillbent.com, Inc. or its affiliates may own positions in the equities mentioned in our reports. We do not receive any compensation from any of the companies covered in our reports.

 

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