[pcabc]

S&P500 versus Russell 3000 breadth

The S&P500 has bounced off the red resistance line and is dropping despite showing earlier signs of strength when it broke through the blue one [1]. Having strengthened over the last approx six weeks in the short term at least the breadth indicators have weakened.  The silver cross indicator [14] is about to drop below its MA.  My very short and short term aggregate scores [A] are negative and my medium and long term indicators [B] seemed to have peaked, at least for now. I think that until there is a higher low and the red trendline is broken caution is appropriate - but that's just my view.
   

[pcabc]

Bitcoin v Crypto

A month ago this really looked like it was gaining strength.  But the very recent drop might be short term or might be the start of a worse slide?  In the shorter term the % of cryptos above their 20 and 50 day EMAs [11 & 12] has strengthened as had the Silver Cross Index [14].  The % cryptos above their 200 day EMAs [13] and Gold Cross Index [15] has started to strengthen from basically being as low as they could be.  With hindsight I was a little too keen with my own recent (modest) crypto purchases.

[pcabc]

Gold v gold miners

Don't understand, if we have massive inflation, why gold is not doing better?  Gold versus miner breadth generally poor.
   

[pcabc]

Relative strength plots for market breadth

I've seen the use of relative strength plots to show market breadth.  Martin Pring's book, which I have currently mislaid, certainly has some.  Mixed messages from the two plotted below.

Consumer discretionary versus consumer staples:
This has peaked and is now pulling back.
   


Brokers's ETF versus S&P500:
Prety sure this is from Pring's book, had I not mislaid it.  Note it is not pulling back.
   

So, some contradictory information.

[pcabc]

Crypto

It was interesting that after the lows of about eight weeks ago we saw a strengthening, that has recently weakened again.  However, is there a small sign of strength?  We are still under a falling 150 day SMA, but the 50 day SMA is flat [1].  At present the low is higher than the previous one.

The Silver Cross Index [14] had dropped down in the last couple of weeks after showing strength [14].  However, it has just moved up a little, and is above, just, its MA.  However, is this real of just a glitch, as my data is not entirely glitch free.  My very short [A, red] , short [A blue] and medium term [B, green] aggregate breadth scores are all on the rise.

I'm optimistic at present that this may be a bottom, but note that I could easily be wrong.

   

[isatrader]

Stage Analysis Technical Attributes (SATA) indicator has been published on TradingView

Identify the Four Stages from Stan Weinstein's Stage Analysis method using the visual scoring system  

Enjoy!

https://www.tradingview.com/script/o8cHt...eanalysis/

   

[isatrader]

New Video: Part 1 – Stage Analysis Members Weekend Video - 4 September 2022 (1hr 3mins) has been posted.

▪️ 14 min FREE preview discussing how to use the new Stage Analysis Technical Attributes (SATA) Indicator
▪️ Premium Members login to the blog for the full length video

View the video in the blog at: Part 1 – Stage Analysis Members Weekend Video - 4 September 2022 (1hr 3mins)

   
   

[isatrader]