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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 - 2022-05-22
S&P500 versus Russell 3000
Breadth is unquestionally bearish. Price [1] is showing a classic Stage 4 downtrend. New highs - New lows are -ve [3] and the cummulative version of this is headed downward below its MA [4]/ The Weinstein and 1% A/D momentum lines have been negative for a while and headed downward [5 & 6]. % stocks over the 50 day EMA is below 30% on a downtrend [13] and the % above the 200 day EMA is at 30% again on a downtrend. Silver and Gold Cross Indicies similar [14 & 15]. My personal aggregate scores for medium and long term are as low as they can go [A & B]. I'd consider any short very short term trends as just noise at present. To my eyes there is no indication of any strengthening.
RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis - pcabc - 2022-05-22
Gold versus Gold Miners
I suspect gold is pulling out of a pullback (I opened a position earlier this week). However, the breadth of the miners is very weak, which ties in with me hitting my stop loss on a gold miners ETF recently. I should not have bought it.
RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis - pcabc - 2022-05-22
Oil & Gas producers
We've had this pennant shape on the oil price for a while [1], it appears to be reluctantly breaking out on the positive side with recent higher highs and low, but not spectacularly. Not that such a breakout is a good thing in a wider context.
There has been a pullback on the % stocks above their 20 and 50 day EMAs [11 & 12] and the Silver Cross Index [14] bit this has not been seen so much in the % stocks above the 200 day EMA [13] and Gold Cross Index [15]. Weinstein Momentum [5] is crossing up through the zero line and 1% A/D is a little above it, though the direction is unclear [6].
My aggregate long term score [B, grey] has not moved much during this pennant pattern, but the medium term score has [B, green] but has not gone significantly negative. My supposition is that the oil and gas producers are still going to move upwards, but that is only supposition.
RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis - pcabc - 2022-05-22
Bitcoin v crypto
Bitcoin [1] seems to be hovering around 30000 - sometimes a little lower, sometimes a little higher. Compared against a basket of cryptos breadth is horrid. If I imagine quite hard perhaps the price [1] and the A/D volume line [2] are matching, unlike the A/D line [2, red] which is diverging negatively. But that is the only vaguely positive sign I could tease out, overall very bearish.
Weekend Posts in the Blog - isatrader - 2022-05-22
Links to this weekends blog posts:
Stage Analysis Members Weekend Video – 22 May 2022 (1hr 18mins)
Major Indexes Shakeout at the Lows in Stage 4 and the US Stocks Watchlist – 22 May 2022
Market Breadth: Percentage of Stocks Above their 50 Day, 150 Day & 200 Day Moving Averages Combined
US Stocks Industry Groups Relative Strength Rankings
RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis - pcabc - 2022-05-24
I've noticed a few strong upward moves looking toward coming out of pullbacks in US energy stocks today. However, not seen any with favorable volume.
RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis - pcabc - 2022-05-27
US Utilities
Some strengthening in utilities. It looks like there is a long term rising trend superimposed with a 4 month cycle of peaks and troughs overlaid.
RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis - pcabc - 2022-05-27
Energy sector still generally strong
The only dissenting indicators seem to be the Silver Cross Index and the % stocks over the 200 day EMA. The A/D line might diverge if the index drops back suddenly, but if it carried on upwards that gives the A/D line time to make a matching new high.