Stock Market Analysis for the Nasdaq

If we are seeing the beginning of minor wave iii of a 5 Wave affair to the downside the S&P 500 shouldn't rise back above yesterdays high of 1196.

Meanwhile the Volatility Index (VIX) is now working on a 7 week Handle (H) after forming a longer term Cup. If the VIX were to break out to the upside then that would have an adverse impact on the market.

Keep in mind when an index or a stock forms a Cup and Handle pattern strong moves can follow once a breakout occurs. RHT provides a good example of this back in 2003.

Thursday's Buy Signals

Primary Secondary RSI Williams Fisher TRIN Volatility Money Money Put to VWAP Signal

RSI Long RSI
Long Max/Min %R Transform S&P 500 Bands Flow Flow/
TRIN Call Ratio Strength

Signal Signal Signal Signal Signal Signal Signal Signal Signal Signal Signal

No No No No No No No No No No No

When 6 or more Signals are generated that is a Strong Buy Signal
When 3 to 5 Signals are generated that is a Moderate Buy Signal
When only 1 or 2 Signals are generated that is a Weak Buy Signal

Thursday's Sell Signals

Advance Fisher ROC VWAP Volatility Volatility TRIN Signal

Decline Transform VWAP Percent Index Bands S&P 500 Strength

Ratio Signal Signal Signal Signal Signal Signal

No No No No No No No

When 5 or more Signals are generated that is a Strong Sell Signal
When 3 to 4 Signals are generated that is a Moderate Sell Signal
When only 1 or 2 Signals are generated that is a Weak Sell Signal

When a Buy or Short Signal is triggered numbers will be entered into the table below.

ETF Wednesday's Buy/Short Signal Entry Initial Stop Trailing Stop 1st Target 2nd Target 3rd

Target

Signals Date Price Price Price Price Price Price

SPY

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