Parallax Financial Research
@ParallaxFR
Neural Network Solutions for Professional Money Managers
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The QQQ and IWL ETFs have weekly scale ExtremeHurst Top Extension signals here. Extensions mark the abrupt end of trends and are followed by flat or retracing prices. Signal duration scales to the elapsed signal build time. In this case they expire next April.
The Nikkei 225 has a weekly scale top here. Expect a retracement period to last through Feb. All our tools including ExtremeHurst are available by subscription on either Bloomberg or TradeStation. pfr.com
Parallax built a stock valuation algo in 1990 using traditional AI . Since then we've tracked the total market cap of the top 1000 US stocks using our model versus the actual cap. The degree of over valuation has now reached 1999 levels. (available in the Bloomberg app store)
GOOG has a weekly scale top that will be active through mid-December.
There are a number of technology ETFs showing daily scale tops tonight. Expect a retracement period into the first or second week of Oct. Our tools are available by subscription on Bloomberg or TradeStation.
Further checking showed top indications are far worse than first thought. I just discovered the IYF, IYG, Russell 1k and 3k are also top extended through the 3rd week in July. Expect a rough patch near term. Subscribe to our tools from the Bloomberg app store (APPS)
We noted a daily scale ExtremeHurst Top Extension in the IVV iShares Core S&P 500 ETF. Expect a retracement period lasting through July 21st.
The S&P 500 cash half day chart (195 minutes) nailed the bottom. Will it nail a top is to be determined. Expect a flat to down period for the next week.
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