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The S&P 500 gapped higher at the open, but spent the majority of the day pulling back, as multiple major indexes (i.e the S&P 500, Nasdaq Composite, Nasdaq 100 etc) all tested their year to date Anchored Volume Weighted Average Price (Anchored VWAP) and reversed back through to close the day negative. However, none broke the prior days lows and they all remain above their +1x ATR levels currently...

Todays Stage Analysis Members midweek video is a special feature on the Software group, which has been rising up the relative strength rankings over the last month, and has seen many stocks from the group appearing in the watchlist, due to the large number of stocks bases transitioning towards Stage 1, as well as a smaller number of stronger stocks in the group making the move into early Stage 2...

For the watchlist from Tuesdays scans...

With the increased interest in Stan Weinstein's Stage Analysis method recently, I thought it would be useful to begin this weekends video with an educational feature on the Stage 2A entry point, using the example of AAPL from May 2003...

The Healthcare sector dominated the weekend watchlist scans and there's multiple stocks from the sector in the final cut. But many are short term extended, after earnings gaps, or just moving strongly with the group theme. So most are on pullback / consolidation base watch...

There has been steady improvement in the Percentage of US Stocks Above Their 150 day Moving Averages over the last 5 weeks since I produced the sector breadth diagram and table, with a +15.91% improvement over the period and a few more sectors moving into the Stage 1 zone (40% to 60% range), and one sector moving into the Stage 2 zone (above 60%)...

The IBD Industry Groups Bell Curve – Bullish Percent further improved over the last week, moving further into the Stage 1 zone (40% to 60% range), with an additional +10.5% of groups moving out of the Stage 4 zone (below 40%), and an additional +8% of groups moving into the Stage 2 zone (above 60%)...

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...

Biotechnology stocks group ETFs (XBI and IBB) made a continuation breakout today after a three week consolidation / shallow pullback within their early weekly Stage 1 advance – which has been one of the strongest group moves since the markets June swing low...