Views From The Hill

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


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

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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
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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%
↑ = 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
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