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RE: Stan Weinstein's Stage Analysis - pcabc - 2016-11-09
(2016-11-09, 12:21 AM)isatrader Wrote: COPPER has made a Stage 2A breakout attempt today. Another key chart.
When you say 'key' is it a good indication of economic strength in some areas? I could see it indicating rising industrial output, building, construction or manufacturering.
I note that aluminium has a similar set up but it has not made such an obvious breakout:
(2016-11-09, 07:51 PM)pcabc Wrote:(2016-11-09, 12:21 AM)isatrader Wrote: COPPER has made a Stage 2A breakout attempt today. Another key chart.
Worth looking at COPX (copper miners) that has also broken out on good volume.
I would note that the chart appears to be affected by an uncorrected split, so bear that in mind.
Subsidiary question. The market breadth in general has deteriorated of late. However, commodities are not necessarily in the same position in the cycle as equities, and I'd assume the miners correlate with the relevant commodity price most. So should we feel free to jump in or is caution advised? Just thinking that the markets have had some shock news today - but in overall terms its been interesting rather than bad. But there are exceptions in both directions if you look.
RE: Stan Weinstein's Stage Analysis - isatrader - 2016-11-09
(2016-11-09, 07:51 PM)pcabc Wrote: When you say 'key' is it a good indication of economic strength in some areas? I could see it indicating rising industrial output, building, construction or manufacturering.
Just that it is known as a breadth indicator for economic activity in the world. So more of a fundamental indicator which doesn't necessarily translate to stock market moves, but in terms of the weight of evidence adds a positive to the mix.
RE: Stan Weinstein's Stage Analysis - pcabc - 2016-11-09
(2016-11-09, 08:46 PM)isatrader Wrote: Generally the miners correlate to the commodity the most, but will be effected by the broad market too, so if Copper's making a Stage 2A breakout, then it's time to be looking for leading copper miners in the sector, especially ones breaking out on exceptional volume, and deciding if any look like A+ candidates that might be worth a look.
Well, COPX has broken out. A list of miners is available here:
http://www.miningfeeds.com/copper-mining-report-all-countries
US Sectors relative performance tables - isatrader - 2016-11-12
With the US election result this week I thought it would be useful to show the relative performance tables of the individual US sectors from this week to help try and see which sectors the market thinks benefit the most and least from the result.
RE: Stan Weinstein's Stage Analysis - pcabc - 2016-11-12
Following on from Isa, my US, Europe and world relative strength charts. These cover the main sectors only:
RE: Stan Weinstein's Stage Analysis - pcabc - 2016-11-12
Market breadth.
Dow Jones, Nasdaq and AMEX:
S&P500, Russell 2000 and Wilshire 5000 (all against NYSE breadth data):
Major US Stock Indexes Update - NYSE, Nasdaq, S&P 500 & DJIA - isatrader - 2016-11-14
Here's the overview charts of the US Bullish Percent and Moving Average Breadth.
Effective Volume Charts - isatrader - 2016-11-14
The effective volume breadth charts from http://www.effectivevolume.com show some interesting data from last week with a huge positive move in volume from large players in the Russell 2000 ETF. So on that data it looks like the institutional traders think that small caps are the place to be from the election result, as they are clearly favouring the IWM ETF over the SPY and QQQ.