Signals & Trading Plan for Friday 10/25/19

Projections based on market internals
NYSE cumulative A/D line daily chart is pretty much an all time high.  

But there are other indicators standing in the way of total bullishness.

1. Nasdaq A/D line is declining, slowly but surely.  This indicates that market breadth is going down for Nasdaq stocks.  It means that day by day, there are fewer stocks participating in the up swings for $NDX QQQ TQQQ.
2. The percentage of bullish stocks have declined noticeably for both NYSE and Nasdaq since July.  This is a bearish divergence from the current price levels for $SPX $NDX.
3. CBOE equity put/call ratio shows that we are likely to enter into overbought territory soon.
4. $VIX $VXN appear to be dropping.  But there isn’t a whole more room for them to go down.  They are likely to rise up after dropping down a bit more. 
   

The rest of this article covers:
Projections based on market internals (more)
Table of support and resistance levels
Planning your trades

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