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.

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.

Stage Analysis Members Video covering - BTU Stage 2 Breakout Analysis and Targets. Group Focus on Coal, Defense, Cybersecurity. Major Indexes review: i.e. S&P 500, Nasdaq, Russell 2000 and more Market Breadth Update to Determine the Current Weight of Evidence

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

Lower highs again today in the indexes as the bounce fades into the end of the day and the major indexes continue to make lower lows with the S&P 500 breaking the December pivot low...

NYSE Bullish Percent Index at 50.18%, which means half of NYSE stocks are currently on point and figure buy signals and so in the Stage 3 or Stage 1 zone currently (i.e. between 40% and 60%)...

20 year Nasdaq Composite chart with percentage of stocks above their 200 day MA, 150 day MA and 50 day MA underneath for comparison to past periods. Highlighted areas are when 200 day MA was below 30% level. Red line is current level in each.

$IWM Russell 2000 Small Caps index is following the $IWO Small Cap growth index into a potential Stage 4 decline, with a breakdown attempt today.

US Total Percentage of Stocks Above their 50 Day, 150 Day and 200 Day Moving Averages Combined. Closed back above the 50 day MA