Commentary: Paul Ebeling on Wall Street

Commentary: Paul Ebeling on Wall Street

$DIA, $SPY, $QQQ, $RUTX, $VXX

More earnings coming, but investors are looking farther out now.

Last week the market was set up to pullback, and trade triggered the action.

The selling was not heavy, but a normal pullback to near-term support by the index marks and by most of the leadership issues

The action is calm in here, with the indexes at Key resistance marks it is not safe to assume anything. 

But, the leaders look good, the pullback shows some good setups, and that is always a good indication.

With that in mind, keeping current positions that show good, and add after this test participate in the 4th leg up off the December selloff.

Remember, play the markets set ups, when those setups move, take what the market gives.

Pay attention, it is your money, so your responsibility.

The Bull Vs The Bears

Sentiment Indicators

VIX: 15.72; -0.65 
VXN: 20.04; -0.88 
VXO: 16.30; -0.49

Put/Call Ratio (PCR) CBOE: 1.04; +0.05 

The Bulls Vs The Bears: 

The Bulls are recovering, as the Bears hold steady after really big moves during the late Y 2018 selling.

The Bulls are at: 48.6 Vs 45.8 last.

The Bears are at: 20.6 Vs 20.6 last.

Support and Resistance

HeffX-LTN’s overall technical support and resistance outlook for the major US stock market indexes is Neutral to Bullish.

Have a terrific week.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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