The major indexes all tested their lower ends of their bases today, the Nasdaq composite closing below the Jan 24th Selling Climax (SC) level, and so there is a possibility that there could be a Spring attempt. But current geopolitical events continue to add volatility into the mix, and so risk of a broad Stage 4 decline continues to increase. Although you could argue from the market breadth data alone that we are already in Stage 4...

The S&P 500 and Nasdaq 100 both pushed down towards their recent lows that were put in on the 24th January on the local Selling Climax (SC) and are currently making a potential Secondary Test (ST) of that low. So how well defended it is will give further clues to the market condition. i.e. do they form a higher low and push back higher in their Stage 3 ranges, or do they undercut and rebound, but form a Sign of Weakness (SOW), or breakdown completely and move into a major Stage 4 decline.

The major Indexes had a weak final few days of last week and the S&P 500 and Nasdaq Composite both moved back into the lower half the recent range that they have been developing, with the Russell 2000 showing some near term relative strength. But in a weaker overall position as the Russell 2000 is the only major index in Stage 4, while the S&P 500 and Nasdaq Composite and NYSE all remain in Stage 3 currently, with attempts to form a near term base structure, of which they are all in Phase B - the testing phase...

Detailed video of the US stock market indexes, market breadth, industry groups relative strength tables and the stocks from the weekend watchlist.

There were 32 stocks for the US stocks watchlist today. Here's a small sample from the list: BROS, DOCS, VSCO, ZIM, + 28 more...

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.

Physical Gold and the various etfs that track it (i.e. $GLD & $PHYS) are testing the Stage 2 breakout level today, and this has caused strong moves across the various gold miners too, which have featured heavily in the Stage Analysis Members watchlist over the last week, with around 1/3 of the weekend watchlist dedicated to it.

Detailed Midweek video for Stage Analysis Members of the US markets, short term market breadth and the US watchlist stocks

There were 20 stocks for the US stocks watchlist today. Here's a small sample from the list: ABNB, GTLB, IOT, UPST + 16 more...

There were 17 stocks for the US stocks watchlist today. Here's a small sample from the list: AXP, BILL, DDOG, OBE, + 13 more...