Signals & Trading Plan for Tuesday 10/29/19

Projections based on market internals
As we’ve been sharing with you in the last few posts, market internals are still showing conflicting messages, but overall they continue to show an intermediate-term bullish bias.

Within this intermediate term bullish bias, there are now more instances of bearish divergence.

1. Nasdaq market breadth is not as robust as NYSE.
   
   
2. The percentage of bullish stocks for Nasdaq barely rose today, despite $NDX going to a new all-time high.
   
   
3. CBOE equity put/call ratio shows that stocks are still in buying mode in the intermediate term, but they are approaching overbought condition in the short term.
   
   
4. The most telling signal of all are from $VIX and $VXN ...

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

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