Inflection Point Deteriorating market internals that plagued the market over the past year have improved significantly over the last two months. As a result, the odds of stocks falling significantly into a protracted bear market have subsided...
Category - Market/Account Updates
Stocks Continue to Advance, but…
Stocks Continue to Advance, But… Last Friday I posted a handful of charts on my Twitter and Facebook page that suggested stocks are at an elevated risk of a pullback. If you are interested in viewing them, you can left-click the links above to...
Churning
Churning Stocks have been churning sideways for the past couple of weeks. This is one way for stocks to work off the intermediate term overbought condition that is the result of the strong advance off the Mid-February low. The other way for stocks...
Breather
Breather Stocks are still in an uptrend that started in mid-February. While this seven-week rally has been strong, over the longer term stocks are where they were 16 months ago. See chart below. Market breadth has begun to level off, stocks are...
Rollover
Rollover The NYSE Composite Index (chart below) seems to be losing momentum right at its 200-day moving average. Also, the momentum indicators below the chart are starting to rollover. All breadth indicators shown below have either flattened out or...
Four In A Row
Four In A Row Stocks advanced again this past week making it four weeks in a row of positive returns. This advance has been strong, but it is still not clear if the recent rally in stocks is the beginning of a new long-term uptrend or just a counter...
Three In A Row
Three In A Row Stocks advanced strongly this past week and have now been up for the past 3 weeks. This advance has brought stocks up to some very important resistance areas. The NYSE Composite Index has reached previous lows and is sitting right...
Rough Seas Ahead
Rough Seas Ahead Stocks advanced again this past week and are in a short-term uptrend. The advance over the past two weeks has taken most stock market indexes back up to recent highs and this will act as resistance this coming week. Even with this...
Teetering On A Ledge
Teetering On A Ledge Stocks were down for the week. However, on Friday stocks bounced strongly on long-term support. Over the past couple of years, the S&P 500 has hit this level now four times. Stocks again are trying to advance off of this...
Deflated
Deflated Bounce Deflated Bounce In last week’s newsletter I wrote about how stocks had become oversold and market breadth had turned positive, which signaled a potential bounce was likely. The bounce we got was anemic. Instead of bouncing...