MEM on SPY, IWM, $NYA & $COMPQ
Hi Mike,
For practice and usefulness in my trading, I manually run the MEM system on SPY, IWM, $NYA & $COMPQ each morning and *try* to keep count.
I am not perfect, but I try my best and have folks like you and others help me stay on track - most certainly with $COMPQ. So, to the best of my ability what follows is my count.
As of Jul 20, before the open:
1. SPY: EC +4 (90%) and 3 DD (Jul 5, 6 & 10) - FTD was Jun 29. Spy is and has been out of synch with the others, e.g. FTD was on Jun 29 whilest others had their FTD on Jun 15.
2. IWM: EC +3 (75%) and 5 DD (Jun 21, 25 & Jul 10, 12 & 19)
3. NYSE: EC +1 (30%) and 5 DD (Jun 21, Jul 5, 9, 10 & 12)
4. $COMPQ: Buy Switch OFF
I totally agree and see SPY as the leading index based on the exposure counts and DD's above. I also see the real-time 20D MF plodding higher each day and mostly keeping a low ATR .. (the last couple/few days)... I also see divergences in the indexes/ETFs. I am somewhat confused by this, so I am inclined to see the market as being on the *edge* of something.. hopefully, a big move higher, but TBD and let's see.
Any suggestions or thoughts welcome: e.g. I sometimes wonder whether IWM is more volatile than $COMPQ and $NYSE, such that MEM levels (on FTD, etc.) may be too low for that index (but, I looked at ATR averages and IWM is not that different than the QQQ's/$COMPQ over the last couple of years).
Take care,
Shawn