A bigger watchlist for the first time in little while, as the recent watchlists have been sparse due to the deterioration of the market since early February, as seen by the weekends market breadth posts. However, over a third of the stocks are from only two groups...

One of the primary purposes of the daily watchlist scans is as alternative form of market breadth, as by scanning the market daily and looking for stocks displaying the characteristics of Stage 1 and Stage 2. It gives a really good idea of the overall market health...

The S&P 500 moved strongly back above its 20 day EMA today. But as you can see in the above chart, there's a notable difference with the S&P 500 percentage of stocks above their 20 day EMA (middle indicator) which is at 36.60%, as with the S&P 500 index above its 20 day MA by almost 1%, you would expect at least 50% of S&P 500 to be doing the same...

This weekends video begins with a detailed discussion of the IBD Industry Groups Bell Curve – Bullish Percent and the Market Breadth Indicators, in order to help to determine the weight of evidence, which is the most crucial aspect of Stan Weinstein's Stage Analysis method. The changes in the US Stocks Industry Groups RS Rankings are then discussed, as well as the Major Indexes Update and Futures, including the S&P 500, Nasdaq 100, Russell 2000, US Dollar Index, Gold etc. Followed by a review of the watchlist stocks from the weekend scans.

For the watchlist from the weekend scans...

The Stage Analysis members midweek video discussing this weeks volatile price action in the S&P 500, Nasdaq Composite, Russell 2000 and the VIX, with a look at what the short-term market breadth indicators are suggesting. Plus a look at some of the this weeks major Stage 4 breakdown attempts. Followed by a detailed look at the US Watchlist Stocks from today scans and yesterdays post in more detail with live markups on multiple timeframes.

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.

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...