Market breadth analysis, Monday 28 Sep 2015

1. A/D line is at -674, down from -14 two weeks ago, and heading down. The $NYSE at 9,601 has broken below the 9,750 level of late August. No divergences. 0
2. NYSI is deeply negative at -411.  It went negative in early June. -1
3. NYHL (EMA10) is negative at -208, after crossing below 0 in July and making a sharp bottom at -450 at the end of August (+1). No divergence (0). But still negative (-1). Net 0.
4. NYA200R (EMA20) has crossed below 50 in early July and is at 23, still descending. -1.
5. NYA200R (ROC14) is at -23, outside the [-20, 20] range, going from -50 to +50 in a month. Too much volatility, I think this is just noise. 0
6. CPC (50MA) is at 1.05, after crossing above 1 (meaning bearish) on July 31. -1

Score: -3
$SPX on 28 September was 1881 (was 1961 two weeks ago).

$SPX has broken below the bearish triangle pennant pattern on Sep 22, just after the anticipated convergence point. By classic technical analysis this would mean another 10% or 200 points drop, to the 1760 area.

Market breadth analysis, Sep 11 2015

1. A/D line is at -14, moving up and sideways. Made a recent bottom at -1300 in late August. $NYSE on the decline since May. No divergences. 0
2. NYSI is deeply negative at -522. That's 200 lower than a month ago. It went negative in early June. -1
3. NYHL (EMA10) is negative at -94, after crossing below 0 in July and making a sharp bottom at -450 at the end of August (+1). No divergence (0). But still negative (-1). Net 0.
4. NYA200R (EMA20) has crossed below 50 in early July and is at 25, still descending. -1.
5. NYA200R (ROC14) is back up at -14, inside the [-20, 20] range, after a 3 week bottom around -50. +0.5
6. CPC (50MA) is at 1.042, after crossing above 1 (meaning bearish) on July 31. -1

Score: -2.5
$SPX on 11 September was 1961 (was 1988 two weeks ago).

$SPX seems to be making a bearish triangle pennant pattern, whose upper and lower sides point to a convergence point next week. By classic technical analysis this would mean another 10% or 200 points drop, to the 1760 area.