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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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Cumulative Point & Figure Breakouts - Breakdowns - isatrader - 2022-01-08
Totals for the week:
+647 double top stock breakouts
-854 double bottom stock breakdowns
-207 net breakouts - breakdowns
Status: Neutral Environment
Cumulative Point & Figure Breakouts - Breakdowns Distance Above / Below its 20 day MA
Cumulative Point & Figure Breakouts - Breakdowns MA Momentum Oscillators
104 Dow Jones Industry Groups sorted by Relative Strength - isatrader - 2022-01-08
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/freecharts/industrysummary.html#&t=T and clicking on the name of the group
1 week, 2 week, 4 week and 12 week RS changes
The top 20 by 1 week change tells the story this week, as is dominated by Energy and Bank groups, of which numerous had strong moves this week and the Energy and Bank sector etfs $XLE and $XLF both made Stage 2 breakouts to new highs.
Of the energy groups. Oil Equipment & Services led this week and the stock with the leading RS in that group is $NEX which had a monster week on its highest volume for a few years.
Of the Financial groups. Banks led this week & $CUBI (highlighted in the watchlist on 14 Dec) is the strongest RS stock in that group with an SCTR score of 99.7, which makes it one of the strongest stocks in the whole market. Look at that beautiful Stage 2 advance since Nov 2020
+1x ATR(21 day) and -1xATR(21 day) breadth charts - isatrader - 2022-01-08
% above +1x ATR(21 day) = 34.47%
% below -1xATR(21 day) = 23.27%
The cumulative line ended the week at new highs, but the short term data had a short term sell signal on Wednesday as moved from the two extremes.
Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined - isatrader - 2022-01-08
US Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
39.24% (-2.87% 1wk)
Status: Difficult Environment. There was a brief upthrust to Postive, but the combined line fell back below the 50 day MA on Wednesday.
Strategy: Neutral / Defensive i.e. small position sizes with progressive exposure
US Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined Point and Figure Chart
Reversed back to a column of Os this week, and so applying P&F Statuses used with the Bullish Percent Index that changes it to Bull Correction status.
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 environmentÂ
NYSE Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
52.62% (-0.62% 1wk)
Nasdaq Total % Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
25.85% (-5.13% 1wk)
Moving lower in the lower zone. So the Nasdaq MA breadth is firmly in Stage 4.
Nasdaq Composite Percentage of Stocks Above their 50, 150 and 200 day MAs - isatrader - 2022-01-08
20 Year chart of the Nasdaq Percentage of Stocks Above Their 50, 150 and 200 Day MAs
In the lower zone on the short, medium and long term measures. So the Nasdaq Composite is in Stage 4 by this measure even though the index chart is still in Stage 3.
Effective Volume - SPY, QQQ, IWM - isatrader - 2022-01-08
Effective Volume update from http://effectivevolume.com/content.php?156-etf-review on the $SPY, $QQQ, $IWM
Large player volume in the QQQ continued to drop off and made new lows. Cumulative volume declining in all three. So a negative for the weight of evidence from this breadth measure.
US Sectors & Major Index ETFs Relative Strength Table & Thumbnail Charts - isatrader - 2022-01-09
US Sectors & Major Index ETFs Relative Strength Table using the @stockcharts SCTR score
New Stage 2 continuation breakouts in Energy $XLE & Financials $XLF this week which move them to the top of the relative strength table.
#stocks #trading #money
US Sectors - Percentage of Stocks Above their 150 Day (30 Week) Moving Average - isatrader - 2022-01-09
US Sectors - Percentage of Stocks Above their 150 Day (30 Week) Moving Average (Data from the whole US market)
Average: 50.53% (+0.85% 1wk)
4 sectors are in the Stage 2 zone (Financials, Energy, Real Estate, Utilities)
3 sectors are in Stage 1 / 3 zone (Consumer Staples, Industrials, Basic Materials)
4 sectors are in Stage 4 zone (Consumer Discretionary, Technology, Communication Services, Health Care)
Financials & Energy moved to the top of the table this week & are in the Stage 2 zone. Whereas Heath Care & Technology had the biggest drops and are in lower Stage 4 zone.
So a very mixed market with defensive sectors leading & overall average at 50.53% in Stage 3 or 1 zone.