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Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis - Printable Version

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RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis - pcabc - 2021-12-23

Gold v Gold Miners

Gold looks like it is Stage 1.  You could argue a recent higher high and higher low, but the 150 day MA is sloping downwards still. 1.  The McClellan Oscillators, 7 & 9, are based on Advance / Decline data (and volume for 9) have moved up rapidly over the last week or two.  The % mining stocks over their 20 and 50 day EMAs has increased notabily for the 20 day and less for for the 50 day.  The 14 day Silver Cross index appears to be turning right now.  So there is some short term strengthening at least, but overall weak.
   

RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis - pcabc - 2021-12-23

S&P500 versus Russell 3000 breadth

Looking at nearly all the indicators, over the last week there have been some moves upward.  Price, 1, seems to be bouncing off just below 4750 - perhaps a volatility contraction pattern?  However, at present the Advance / Decline, 1 red, is weaker, but the A/D volume is stronger.  The Weinstein Momentum, 5, and 1% Advance / Decline, 6, have been trending lower.  They have upticked over the last week, but  really that is just noise.  The McClellan oscillators, 7 & 8, have moved positive, but the longer term summation indicies, 8 & 10 are negative and still sloping down.

The % stocks above their 20 & 50 day EMAs have moved up and the %s above their 20 & 200 EMAs are both above 50%.  However, the Silver Cross Index, 14, has just crossed, in the negative direction, its 50% line.  The Gold Cross Index, 15, remains above 50% but is falling.  At best things are weak. 

   

Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined - isatrader - 2021-12-27

US Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined

39.44% (+7.56% 1wk)

Status: Difficult Environment (P&F Bull Alert)
Strategy: Neutral

       


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 

       


NYSE Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined

48.41% (+8.79% 1wk)

       


Nasdaq Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined

30.47% (+6.32% 1wk)

       

Cumulative Point & Figure Breakouts - Breakdowns - isatrader - 2021-12-27

Totals for the week:

+622 double top stock breakouts
-527 double bottom stock breakdowns

+95 net breakouts - breakdowns

Status: Difficult Environment

   


Cumulative Point & Figure Breakouts - Breakdowns Distance Above / Below its 20 day MA

   


Cumulative Point & Figure Breakouts - Breakdowns MA Momentum Oscillators

               

+1x ATR(21 day) and -1xATR(21 day) breadth charts - isatrader - 2021-12-27

% above +1x ATR(21 day) = 26.80%
% below -1xATR(21 day) = 5.20%

Bulls taking control near the end of the week with 26.80% of stocks in the S&P 1500 above the +1x ATR level and the % below their -1xATR level sown to 5.20%

           

Effective Volume - SPY, QQQ, IWM - isatrader - 2021-12-27

Effective Volume charts from http://effectivevolume.com/content.php?156-etf-review of the SPY, QQQ & IWM

Cumulative effective volume transitioned to Stage 2 in the SPY & QQQ. But remains in Stage 1 in the IWM small caps.

   

Percentage of Stocks above 20 day EMAs in the Nasdaq, NYSE, S&P 500 & Small Caps - isatrader - 2021-12-27

Percentage of stocks above their 20 day EMAs in the Nasdaq, NYSE, S&P 500 and Small Caps followed through across the board to end the week in a strong position.

               

104 Dow Jones Industry Groups sorted by Relative Strength - isatrader - 2021-12-27

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

               

Hotels $DJUSLG was a group of note this week moving up 40 SCTR to 8th overall.

Stocks with the strongest RS in the group are HLT, CHH, H, WH, all of which had strong weeks are potential for Stage 2 continuation attempts.