4/13/20 MARKET CLOSE Update - QUANTITATIVE SUMMARY

Don't short Bezos unless Bezos shorts Bezos.


Here is the run down as of the end of the day today:


Below the MSL (macro bearish overhead resistance) & waning momentum:

SPY

QQQ

SOXX

IWM

FB

AAPL

GOOG

HYG

JNK

BKLN

XLF

XLV

XLU

XBI

XHB

XME


Approaching a Neutral MSL (means net neutral stance):

AMZN

NFLX


Above the MSL (macro bullish support underneath) & resetting momentum:

VIX

UUP

TLT

GLD

SLV

GDX


INTERNALS - bullish exhaustion symptoms are everywhere but TRIN still strong and AMZN and NFLX short squeezed some folks today and carried indexes with them.


Here are consistent theme across everything:

  • Internals turning over today under the surface

  • Buyers where chasers and on low volume

  • Tech held up what would have been red day

  • VIX short targeting was theme from 3PM on.

  • Thin leadership across everything so large caps doing all the work

  • Real Estate, Banks, and Small Caps drubbed

  • Momo Risk-on trades (XBI/XLV) were meh and internals rolling over

  • Reeks of distribution still under the surface.


Fed also notated today that they are going to wind down overnight REPO...they last did this in mid-late February...at the end of a large bullish bounce...right before OPEX and VIX bottoming...is this groundhog day all over again but from a lower high?


Hmmm...


More tomorrow - stay safe - cash is never trash.


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