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+--- Thread: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis (/Thread-Stan-Weinstein-s-Stage-Analysis-and-Market-Breadth-Technical-Analysis)
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RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis - pcabc - 2021-09-05
Breadth Overview
Major indices:
Very short term breadth has weakened on the S&P500 and Russell 3000. The long term breadth has been decreasing for a while by the medium term breadth has been increasing. So this may be temporary? But I'd say that things may have changed in a week, so I'd not make a prediction.
US sectors:
Mixed bag.
UK sectors:
Mixed bag.
Commodities:
Weak except oil and crypto.
Miscellaneous:
Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined - isatrader - 2021-09-10
US Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
Exclusive US Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
46.26% (-9.42% 1wk)
Status: Changed to "Difficult / Negative Environment"
The bulk of this weeks decline came from the NYSE stocks, but the Nasdaq also dropped back below 40%
This is the most significant breadth chart that I use these to help with market timing & will explain in more detail in the weekend video
Nasdaq Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
Nasdaq Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
39.53% (-5.47% 1wk)
Status: Changed to "Difficult / Negative Environment"
NYSE Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
NYSE Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
52.98% (-10.66% 1wk)
Status: Changed to "Difficult / Negative Environment"
Percentage of Stocks Above their Key MAs Oscillators
A different look at the US Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined chart in which the Moving Averages are flattened to generate an Oscillator.
Above Zero Line is Positive Environment & Below is Negative Environment.
These charts really simplify things, as if you compare the periods when it was above the "Zero Line" to the periods when it is below the "Zero Line". Then you can see that it's much easier to make progress in your account when it is above i.e. a positive environment.
20 and 50 day Oscillator
Both returned below the Zero Line, which has been the dominant trend this year, which highlights the difficult environment that we continue to see.
Cumulative Point & Figure Breakouts - Breakdowns - isatrader - 2021-09-11
Totals for the week:
+261 double top stock breakouts
-371 double bottom stock breakdowns
-110 net stock breakouts - stock breakdowns
Remained above the 20 day & 50 day MAs and so no change in status.
Status: Positive Environment
Cumulative Point & Figure Breakouts - Breakdowns MA Momentum Oscillators
I will do a full market breadth review in the weekend video, as need to go through the other key areas such as the bullish percent indexes, advance decline lines and new high new lows to get a better idea of the Weight of Evidence.
US Sectors & Major Index ETFs Relative Strength Table & Thumbnail Charts - isatrader - 2021-09-11
US Sectors & Major Index ETFs Relative Strength Table using the @stockcharts SCTR score
All major indexes & sectors ended the week lower. But $QQQ Nasdaq 100 and $XLK Technology moved to the top of the Relative Strength rankings for first time in over 6 months.
US Sectors & Major Index ETFs Relative Strength Table & Thumbnail Charts - isatrader - 2021-09-11
US Sectors & Major Index ETFs Relative Strength Table using the @stockcharts SCTR score
All major indexes & sectors ended the week lower. But $QQQ Nasdaq 100 and $XLK Technology moved to the top of the Relative Strength rankings for first time in over 6 months.
RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis - pcabc - 2021-09-11
Breadth overview
Everything has weakened with the S&P500 versus the Russell 3000 showing a divergence in the advance decline line, but note, this is not the NYSE A/D line. The % shares above the 50 and 200 day EMA is generally falling and Weinstein Momentum is falling. According to my scoring system UK has weakened as has crypto.
Main indices:
US sectors:
UK sectors:
Commodities:
Miscellaneous:
A few specific charts:
S&P500 versus Russell 3000:
I note that the divergance of the A/D line and other weaking has been going on for months, yet the S&P500 has still risen.
Gold versus gold miners:
Bitcoin versus a bucket of cryptos:
Last weeks drop is barely noticable on this time frame.
RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis - pcabc - 2021-09-11
S&P500 sector breadth
RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis - pcabc - 2021-09-11
Worth noting that Japanese indices have recently broken out: