I talked about the Major Indexes Attempting to Breakdown into Stage 4 in a previous post. Today we saw some further weakness in the market, such as the Nasdaq 100 (attached) as the recent leading groups that had been running strongly in Stage 2, started to unwind, following short term climatic action in a number of areas such as Oil, Commodities and Precious Metals last week.

Weekend Stage Analysis Members Video covering the Major Indexes, Commodities, ETFs in focus, the Sectors and Industry Group Relative Strength, Market Breadth Update and finally the US Stocks Watchlist in detail where I mark up the price and volume action that I'm looking for in and the developing themes from the watchlist.

A number of Stage 2 breakouts in the weekend watchlist stocks. For example FLR which was highlighted in the watchlist on the 2nd March and the 7th March is one of the most interesting breakouts from a 43 week Stage 3 trading range with Cup with Handle type of pattern and almost 3x the average weekly volume on the breakout week and RS versus the S&P 500 at new 52 week highs.

Energy and Gold were the only positive areas this week with Consumer Staples sector down the most on the week followed by the Nasdaq 100 and the Technology sector - both of which are on the edge of tipping into Stage 4.

The purpose of the RS tables is to track the short, medium and long term RS changes of the individual groups to find the new leadership earlier than the crowd...

Custom Percentage of Stocks Above Their 50 Day, 150 Day & 200 Day Moving Averages Combined Market Breadth Charts for the Overall US Market, NYSE and Nasdaq for Market Timing and Strategy.

I talked in yesterdays members video about the constructive pullbacks in the strong RS groups and highlighted some group themes in Coal, the Oil Groups, Aluminium, Gold Mining, Uranium, Non Ferrous Metals, Fertilisers / Potash, Steel and a few others...

Members midweek video covering the market and watchlist stocks...

Todays watchlist had a number of group themes, but the overall theme was pullbacks in strong RS groups which I talk about in the midweek video...

Stocks attempted to rally intraday, but it faded into the close with the major indexes all moving back down towards the recent 24 February low, and so looking through the weekly charts of the S&P 500, NYSE, Nasdaq Composite and Nasdaq 100; they are all making potential Stage 4 breakdown attempts. So a pivotal point for the US markets this week.