[isatrader]

$SQ Square/Block moving lower through prior resistance this week on strong relative volume after making the initial Stage 4 breakdown last week. RS versus the S&P 500 at new lows ahead of the price action & another 2020 leading stock rolling over into the Stage 4 declining phase.

   

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More and more charts dropping into Stage 4 like $DKNG over the last month with only 30% of US stocks now above their short, medium and long term moving averages. So a difficult environment for #stocks

   

[isatrader]

➜ US Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined - 10 Years

30.06% (-8.11% 1wk)

Status: Difficult Environment

Combined % Stocks reaching the lower zone, which as you can see is a fairly rare occurrence.

   

[isatrader]

NYSE and Nasdaq Bullish Percent Indexes moving into the lower half of the range. Status on Bear Confirmed.

See the attached thread for explanations and examples of the Investors Intelligence Bullish Percent Statuses. https://twitter.com/stageanalysis/status...11907?s=20

               

[pcabc]

Breadth overviews

I've not posted these lately.  Partly as it the inner workings are a bit to complex to explain easily.  However, the take away is that things are quite negative at the moment.

Major indices:
   

US sectors:
   

UK sectors:
   

Commodities:
   

Miscellaneous:
   

[pcabc]

S&P500 versus the Russell 3000 constituents:
   


Notable points:
3. New highs minus new lows has been negative for the last week.  Its not been negative, significantly since the early 2020 crash.

6. The 1% Advance / Decline, which is similar to Weinstein's Momentum indicator, but using a 200 day EMA rather than SMA, looks like it may cross below zero soon.  Of course, it might not.  But if things don't strengthen then that's a possibility.

13.  The % stocks above their 200 day EMA is sloping down.  The % above the 20 & 50 day EMAs appears to be bouncing a little, but the longer term average might be bouncing off the 50% mark, but it is not so clear.

14.  The Silver Cross Index is at 50% and looks like it will cross it in the -ve direction soon.

15.  The Gold Cross Index is at about 60% but is declining.

[isatrader]

Stage Analysis Members Midweek Video - 9 December 2021 (56 mins) has been posted in the private twitter feed and forum.

Members login to private twitter or Premium Members Board in the forum to view the Video.

➜ Non-members can find out more via the link on the homepage: stageanalysis.net

   

[isatrader]

Effective Volume update for $QQQ, $SPY, $IWM

Cumulative EV charts in early Stage 1, with the Nasdaq 100 (QQQ) showing the best RS, and Russell 2000 (IWM) the worst RS.

Large players have participated in the recent bounce, but gave back a bit in the QQQ the yesterday.

Effective volume charts can be found at http://www.effectivevolume.com/content.p...etf-review

   

[isatrader]

Another bit of alternate market breadth can be found on stockbee https://stockbee.blogspot.com/p/mm.html

Currently still weighted to the negative side.