April 6, 2020 12:42 AM RSS

Rebel Yell: EC Spread Revisited

  • Wall Street Rebel | James DiGeorgia
  • 04/25/2016 06:55 PM
Rebel Yell: EC Spread Revisited

Since our last update on the Erlanger EC Spread, we noted that the Erlanger EC Spread on the S&P 500 via SPY was starting to give us signs of problems as it had crossed below its signal line. The EC Spread closed in on 0 and then move above but has been unable to clear its signal line. A break below 0 would be a problem for the market and a hold will tell us that maybe this is as bad as it will get.

Also, we have highlighted the Heikin Ashi Candlesticks. Green is good. Red is bad. Currently, we have several days of red. This needs to be watched closely as it is occurring when the EC Spread is weakening.

The takeaway is the right the S&P 500 is having a hard time deciding whether it wants to go back to 2050 or move above 2100. We remain watchful.

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