Crude Oil has been weakening gradually since topping a year ago in early March 2022, where it had what's know in the Wyckoff method as a Buying Climax (BC) and Change of Behaviour as the Automatic Reaction (AR)....

Following on from yesterdays video where it was discussed that Gold might be in the Stage Analysis methods secondary entry zone. Today we saw a strong move in all of the precious metals futures – i.e. Gold (GC), Silver (SI), Platinum (PL) and Palladium (PA). The strength wasn't limited to the physical metals, as the precious metals mining stocks also caught a bid, so I though it would be useful to do a broader post covering some of the precious metals ETFs and stocks, so that you can further research the group in more detail...

The Stage Analysis members weekend video this week begins with a discussion on Gold as it attempts to rebound around its prior Stage 2 breakout level in the turn with the US Dollar Index attempting to rollover at its Stage 4 breakdown level. Then a discussion of the Stage 4 breakdowns in the Bank indexes and different ETFs that cover them. Before the more regular weekly content of the Major Indexes Update, Futures and US Treasuries, IBD Industry Groups Bell Curve – Bullish Percent, US Stocks Industry Groups RS Rankings, Market Breadth Update – Weight of Evidence and some of the weeks Stage 2 Breakout attempts against the overall market action.

The IBD Industry Groups Bell Curve declined for a fifth week, losing -9.91% to finish at 38.52% overall. The amount of groups in Stage 4 increased by 52 (+26%), and the amount of groups in Stage 2 decreased by 27 (-13.6%), while the amount groups in Stage 1 or Stage 3 decreased by 25 (-12.6%)...

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.

The purpose of the Relative Strength (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...

Semiconductors continues to be the major group theme of the last weeks watchlist scans with around 20% of the group highlighted, with many in the early Stage 2 backup zone...

The Stage Analysis members midweek video discussing the S&P 500, Nasdaq Composite, Russell 2000 and short-term market breadth indicators. Plus a detailed look at the US Watchlist Stocks from today and yesterdays post in more detail with live markups on multiple timeframes.

SE (Sea Ltd) is in focus today with a strong Stage 2 breakout attempt following earnings results before the open, in which it had its first profitable quarter, which was a significant surprise over the analyst estimates, and so is a potential change of character for the stock...

The Percentage of US Stocks Above Their 150 day Moving Averages in the 11 major sectors has pulled back since the previous post, decreasing by -9.22% to 51.19% overall, which moves it back into the middle of the range, which is the neutral zone.