The broad market came under more pressure today, but I thought it would be interesting to focus on some of the weekly charts of the mega cap stocks which are currently struggling in various Phases of Stage 3...

This weekends Stage Analysis Members Video features the Major Indexes – Nasdaq, S&P 500, Russell 2000, Sector Relative Strength, Market Breadth charts to determine the Weight of Evidence, Industry Group Relative Strength. A Group Focus on the Uranium Stocks and the US Stocks Watchlist in detail with marked up charts and explanations of the group themes and what I'm looking for in various stocks.

There were 44 stocks for the US stocks watchlist today. ASC, ACHC, GFI, LAC + 40 more...

Declines across the entire US stock market this week with the overall average dropping back to 43.93%, which as you can see from the sector data is being propped up by the lingering strength in Energy, Utilities, and Basic Materials. While the rest of the market is lagging, especially the Consumer Discretionary and Technology sectors – which have less than 20% of stocks in each above their medium term 150 day (30 week) moving averages...

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...

Strong relative volume came into the Uranium stocks & ETFs today, with multiple stocks from the group testing the highs of their recent ranges, with closes near the highs of the day and the majority moving greater than 5% including the group ETFs. So there's potential for a new Stage 2 breakout "attempt". But as always – and especially in the current market environment – be on alert for signs of failure on any breakout attempt, as failed breakouts can quickly turn into an Upthrust...

Updated exclusive graphic of the 104 Dow Jones Industry Groups showing the Percentage of Stocks Above 30 week MA in each group visualised as a Bell Curve chart – inspired by the Sector Bell Curve work by Tom Dorsey in his Point & Figure book....

This weeks Members Midweek Video focuses on some of the recent areas of weakness, like the Semiconductors groups, plus brief reviews of some of other featured groups in the last few months – as well as the regular midweek features on the indexes, short term market breadth charts and the watchlist stocks in focus.

The major US stock markets continued to pullback sharply today, with strong follow through on the downside in laggard groups, such as Semiconductors that I mentioned previously. Most of the indexes remain in the upper half of the recent trading range though, and are testing both their short and long term MAs, with closes below the 21 day EMA in the Nasdaq and Russell 2000...