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Thursday, February 25, 2016

Has this rally got legs?


Small breakout on SPX daily above the kumo. I am not convinced that this rally has legs.



SPY weekly breadth study showing small breakout. 180 is the line in the sand. Above that bullish, below bearish. More than than we cannot say.


U.S. 10yr bond still quite well bid. Not bullish for stocks typically.


$HYG above 50 day MA which is quite bullish for stocks. Possibly due to some relief in distressed oil markets. Not sure what to make of it yet.



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