$SPX Inner Health Heatmap
We said on Thursday that the SPX's advancing stocks had remained at a high level that day and that those high readings were sometimes followed by a down day. Friday fulfilled this with a sharp drop of nearly 55 points (-1.22%).
Despite the deep drop the market breadth did not deteriorate much numerically, although on the solid color map the last row returned to red and orange, on the border between bull and bear market.
We insist that a major sign of weakness is the fact that since August 15th more than half of the SPX stocks are below the important 50DMA, currently showing a low reading of 32.6% (67% of SPX stocks are below 50DMA)
Equally important is the fact that SPX stocks above the 200DMA index closed at 50.09 hanging on by a thread to move into negative territory
#BullMarket or #Bearmarket
#SPX #MarketBreadth $SPY #ES_F #0DTE #OptionsTrading
@jonasatia $1000 trailing drawdown on the 25k (unrealized gains) is the hardest I've ever seen...
If you truly want to stand out stop trailing from unrealized gains period.
Building a good year is so much about being in a good rhythm of your execution.
Itβs so easy to get too big, too aggressive or get turned around.
Establishing a good rhythm starts with being small & not forcing anything. Allow the market to come to you. Be ok with missing trades.