Signals & Trading Plan for Friday 7/12/19

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Here is an excerpt from our trading plan.

Market internals 
We are starting to observe a certain amount of bearish divergence between $SPX $NDX prices and market internals, and this may be a message worth heeding from market internals.  We will list them in the order of importance.

1. NYSE and Nasdaq cumulative A/D lines continue to stay depressed while $SPX $NDX prices rose substantially in the last 2 days.  In order to continue the bullish rise up, these lines should be rising more robustly than they are.
2. $VIX and $VXN are forming a base, instead of dropping to match the rise in prices.  This is not the kind of base that will cause them to surge big.  But $VIX can rise back up to 15, and $VXN can rise back up to 19.
3. CBOE Put/Call Ratio has been rising slowly since the start of Wednesday and continue to rise today.  As this ratio rises, it enters into selling territory,  which diverges bearishly from $SPX $NDX rising prices. 
   

The rest of this article covers:
Market internals (more)
$SPX $NDX $RUT support zones during Dip6
Trading plan
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