Momentum Remains Intact Across SPY, QQQ and IWM
1. % Stocks Above 20-MA Across 4 Segment
The 20-MA breadth matters for short term momentum trading. When many stocks break below it in unison, it can be an early warning of a deeper $MMTW drawdown. You can pre-set a price alert via 'crossing - horizontal line' on tradingview based on my extension zone.
Most overbought extension happens at 80% limit, with ATR% from 50-MA coinciding at 7 multiples limit. This two data compliment itself because ATR% multiple accounts for the velocity of the % number of stocks above 20-MA acceleration.
Current levels:
$MMTW 56.8%, 0 x ATR% from 50-MA, My price alert is at 25% and 80%
$S5TW 67%, 1.5 x ATR% from 50-MA, My price alert is at *30% and *75%
$NDTW 55.4%, 0 x ATR% from 50-MA, My price alert is at 25% and 80%
$R2TW 62.5%, 0 x ATR% from 50-MA, My price alert is at 25% and 80%
*Note:
$SPDR S&P 500 ETF Trust(SPY)$ basket is lower ADR% relative to $Invesco QQQ(QQQ)$ and $iShares Russell 2000 ETF(IWM)$ , hence the tighter limit.
2. Current ATR% Extension from 50-MA of Their Index Chart vs Historical Based on 6 x Multiples, and 5 x Multiples for Equal Weight (Yellow Dot),
$SPDR S&P 500 ETF Trust(SPY)$ 2.5 x ATR% from 50-MA
$Invesco S&P 500 Equal Weight ETF(RSP)$ 3.4 x ATR% from 50-MA
$Invesco QQQ(QQQ)$ 2.8 x ATR% from 50-MA
$Direxion NASDAQ-100 Equal Weighted Index Shares(QQQE)$ 3.7 x ATR% from 50-MA
$iShares Russell 2000 ETF(IWM)$ 2.3 x ATR% from 50-MA
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