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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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$TSLA case study - isatrader - 2021-09-25
$TSLA is a good Stage Analysis case study. Potentially now back in Stage 1 and watching for a new Stage 2A breakout attempt.
104 Dow Jones Industry Groups sorted by Relative Strength - isatrader - 2021-09-25
104 Dow Jones Industry Groups sorted by Relative Strength using stockcharts SCTR score
The purpose of the 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.
100 is strongest, 0 is weakest
You can find out which stocks are in each industry group by going to https://stockcharts.com/freech... and clicking on the name of the group
1 week, 2 week, 4 week and 12 week RS changes
Of note is $DJUSAU Automobiles, which is up another 9 RS points this week to 4th place overall now based on the strength in $TSLA this week and a few smaller names in the group like $LCID
Cumulative Point & Figure Breakouts - Breakdowns - isatrader - 2021-09-25
Totals for the week:
+436 double top stock breakouts
-656 double bottom stock breakdowns
-220 net stock breakouts - stock breakdowns
The cumulative line fell below the key MAs on Monday and didn't manage to recover them by the end of the week, so status shifted onto Neutral / Negative as it continues to swing above and below the MAs
Status: Neutral / Negative Environment
Cumulative Point & Figure Breakouts - Breakdowns MA Momentum Oscillators
RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis - pcabc - 2021-09-25
Some observations on breadth
My main observation is that nothing much has changed since last weekend. But I will expand a little. I think the main take away from this post is that nothing clear is happening.
UK:
This has strengthened a little since last week. However, the price [1] seems to be going sideways, maybe it is making a top? New highs minus new lows [2] are now around zero having had a couple of brief downward dips after a lengthy posative period. Weinstein momentum is above zero but I'm not sure whether to say it is declining (it is short term) or more fair to say it is going sideways. The McClellan Momentum and Oscillators [4] are quite near the zero positions, but a bit on the negative side. The % stocks above the 50 day EMA is bullish in 50 - 70% range. However, the % stocks above the 200 day EMA is above 70%, quite high.
Gold / Gold miners:
THe price is definitely going sideways [1], the 150 day SMA is essentially flat. The advance / decline line is in freefall and has been for some time. Similar for Weinstein's momentum [3]. The % of mining stocks about their 50 and 200 day EMAs is roughly 15% for both time periods. So this is all quite negative for miners.
Bitcoin / crypto breadth:
Bitcoin price is going sideways, the 150 day SMA has flattened out [1]. Not much to say on the other indicators except the %s of stocks above their 50 and 200 day EMAs. These have been below the 30% level recently, for the 200 day EMA they have just popped above. To me there is not a clear direction.
Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined - isatrader - 2021-09-25
US Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
47.50% (+1.84% 1wk)
Closed just under its own 50 day MA and so I'm giving it a neutral status. It needs a strong close above the 50 day MA to change it to a positive environment.
20 and 50 day Oscillator
These show the distance that the combined chart is from the 20 day MA and 50 day MA on the chart. Above the zero is positive environment and below is a difficult / negative environment
Nasdaq Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
40.99% (+1.35% 1wk)
The Nasdaq has move back above its own 50 day MA after the visit to the lower zone and then a higher low. So it is now on a tentative postive status once more. But will need further confirmation in the coming weeks.
NYSE Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
54.00% (+2.34%)
The NYSE undercut the prior two lows in the % of Stocks chart and closed the week back above them. So highlights the spring type action that we saw on Monday and Tuesday. It is currently still under its own 50 day MA, and so remains on the difficult environment status currently.
RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis - isatrader - 2021-09-26
(2021-09-25, 06:37 PM)pcabc Wrote: Bitcoin / crypto breadth:
Bitcoin price is going sideways, the 150 day SMA has flattened out [1]. Not much to say on the other indicators except the %s of stocks above their 50 and 200 day EMAs. These have been below the 30% level recently, for the 200 day EMA they have just popped above. To me there is not a clear direction.
Bitcoin continues to develop in a weekly Stage 1 imo following the change of behaviour in July/Aug which took % of cryptos above their key moving averages back into upper zone (higher risk) above 70%, which has now fallen off again & is below 30% with bitcoin trading in a major backup. So crypto MA breadth has moved back to the lower risk area. So I'm watching for the next bull signal, which would be a strong move back above the key 30% level. But there is no way of knowing when that will come, as it could be days or weeks or even months. But I'm remaining vigilant for that and also looking at the altcoins showing the best RS.
US Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined - isatrader - 2021-09-26
Exclusive US Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined Chart
47.50% (+1.84% 1wk)
Closed just under its own 50 day MA and so I'm giving it a neutral status. It needs a strong close above the 50 day MA to change it to a positive environment.
I believe in a Weight of Evidence approach. But if I could only look at one breadth chart then it would be the US Total % Stocks Above their 50, 150 & 200 Day Moving Averages Combined Chart which gives a snapshot of whether it's a postive or difficult environment & field position
Members login to private twitter or forum to view all of the custom breadth charts
➜ Non-members can find the link to join on the homepage: stageanalysis.net
US Sectors & Major Index ETFs Relative Strength Table & Thumbnail Charts - isatrader - 2021-09-26
US Sectors & Major Index ETFs Relative Strength Table using the @stockcharts SCTR score
Major indexes $SPY $QQQ $IWM shook off the weakness from earlier in the week to finish near their highs. In the individual sectors $XLK is leading & $XLE had strongest week