I've led with the Nasdaq Composite in todays post as the watchlist is once again dominated by Software stocks, as numerous stocks in the group continue to develop Stage 1 base structures, and the majority of Software/Technology stocks are listed in the Nasdaq.

The S&P 500 (shown above) and other major indexes rallied strongly for a second day and the S&P 500 is making a Spring attempt from the lows of the developing range, which may still be potentially a developing Stage 1 base...

The (delayed) members weekend video discussing the market, industry groups, market breadth and individual stocks from the watchlist in more detail.

I highlighted the Precious Metals group in the US Stocks Industry Groups Relative Strength Rankings weekend post, and the watchlist scans also picked up a number of stocks from the group potentially transitioning from Stage 4B- towards Stage 1, as the PM group/s had a strong week, while the broad market ended lower breaking down from the recent range...

The IBD Industry Groups Bell Curve – Bullish Percent closed at a new low for 2022 with the average distribution at an extreme of 17.60%, which was a further decline of -1.75% on the previous week and has surpassed the 18.81% low set on June 17th...

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...

Midweek video reviewing the S&P 500 on multiple timeframes, including the 25 year monthly chart with breadth. Plus the VIX and Dollar Index and short-term market breadth. And finally going through some of the watchlist stocks and some additions from todays scans.

The market attempted to bounce today with a typical characteristic of bear markets of the higher open that then gets sold into. However, the market failed to close below the June low, and ended slightly off the bottom of the range, with many stocks in similar positions, with three days of consolidation around the lows of their bases...

The daily scans remain muted with the current market environment, and with the market position where it is (see intraday S&P 500 chart above), there are numerous stocks testing the lower end of their recent ranges, and lots making Stage 4 continuation breakdown attempts...