BXM:SPX compares the relative performance of selling S&P 500 covered calls against holding the equity unhedged. When buywriting outperforms the underlying index, it implies that the market is weak because option writers are keeping premiums as strikes remain out of the money. Since the credit crisis began in late 2007, the relative strength of BXM…
Despite today’s positive close for the S&P 500, the Bullidex fell 1.79% to end the day at 161.3. This divergence indicates a minor weakening of the up trend as volatility increased relative to the percentage of rising stocks. A new row of O’s in the far right column coupled with a declining blue line will…
The S&P 500 Bullidex rose 4.35% to close at 139.5, signaling lower volatility and more rising stocks. The Bullidex hasn’t been this high since January, and with the March lows above the November levels, things continue to look good for the bulls. Year over year, despite the dramatic fall in the price of the S&P…
The S&P 500 took a beating today, and there is no sign of an end to the selling. Volatility continues to increase amidst a declining number of rising stocks. Priced in 10Y T-Bills, the SPX is making a waterfall with no noticeable support to stop it. There is no reason to call a bottom in…
The 5 least correlated positive return ETFs show numerous markets cracking critical support and making new lows. S&P 500 indicators are bearish across the board. The market remains fahklempt, buyers beware. The only positive things I see are emerging markets holding above the November lows, and Treasuries failing to make new highs, despite ominous news…