US - Market Direction 41 (Mar 18 - May 19)

Re: US - Market Direction 41 (Mar 18 - Dec19)

Postby winston » Mon Dec 03, 2018 8:35 am

CHARTS

DJ30: Upside 4 of 5 sessions, moving off the Thursday doji up to just below the 50 day SMA. Solid double bottom bounce but now at some resistance. Lots of good news built into the move (Fed, trade) and a 1250 point move on the week. It would appear DJ30 needs to rest a bit, but with a yearend rally the moves are not necessarily standard.

SP500: Also rallied off the Thursday doji, moving higher to close just below the 200 day SMA, a significant resistance point. Four of five sessions upside here as well. Basically the same pattern as DJ30 in application, i.e. the double bottom rally up to a resistance point.

NASDAQ: Continued higher Friday off a Thursday pause, moving closer toward the 50 day EMA. The big upside days were Monday and Wednesday while Thursday and Friday were more a coast upside. A bit of slower trade here leaves NASDAQ with some more room to rally though both 50 day MA's and the 200 day SMA overhead for the next 175 or so points.

Source: Investment House
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Re: US - Market Direction 41 (Mar 18 - Dec19)

Postby winston » Mon Dec 03, 2018 8:59 pm

NEW HIGHS OF NOTE LAST WEEK

UnitedHealth (UNH)... health insurance
Aetna (AET)... health insurance
Anthem (ANTM)... health insurance
Atrion (ATRI)... medical devices
Merck (MRK)... pharmaceuticals
Pfizer (PFE)... pharmaceuticals
Eli Lilly (LLY)... pharmaceuticals

Walgreens Boots Alliance (WBA)... drugstores
Clorox (CLX)... consumer goods
Helen of Troy (HELE)... consumer goods

Cracker Barrel (CBRL)... restaurant chain
McDonald's (MCD)... burgers and fries
Yum Brands (YUM)... pizza, tacos, and fried chicken

Lancaster Colony (LANC)... dinner rolls
Spirit Airlines (SAVE)... airlines
United Continental (UAL)... airlines
AutoZone (AZO)... auto parts
Monro (MNRO)... auto repair and tires
Welltower (WELL)... real estate investment trust
Getty Realty (GTY)... real estate investment trust
American States Water (AWR)... utilities
California Water Service (CWT)... utilities
Motorola Solutions (MSI)... telecom

NEW LOWS OF NOTE LAST WEEK

Allstate (ALL)... auto insurance
Eaton Vance (EV)... financial services
General Electric (GE)... drowning in debt
Tapestry (TPR)... retail casualty
Tiffany (TIF)... retail casualty
Altria (MO)... tobacco

Fortuna Silver Mines (FSM)... mining
Coeur Mining (CDE)... mining

Source: Daily Wealth
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Re: US - Market Direction 41 (Mar 18 - Dec19)

Postby winston » Wed Dec 12, 2018 11:40 am

This S&P 500 Chart Just Went From Interesting To Dangerous

by Rob Isbitts

When intermediate-term price trends change direction, we’d best pay close attention to them

Source: Forbes

https://www.forbes.com/sites/robisbitts ... be775521a8
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Re: US - Market Direction 41 (Mar 18 - Dec19)

Postby winston » Wed Dec 12, 2018 11:50 am

Now is a Fantastic Time to Put Money to Work in the Stock Market

by Brett Eversole

Source: Daily Wealth

https://dailytradealert.com/2018/12/11/ ... ck-market/
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Re: US - Market Direction 41 (Mar 18 - Dec19)

Postby winston » Thu Dec 13, 2018 2:54 pm

The market is trading like it wants to go lower

by Myles Udland

On Wednesday, stocks faded gains into the close. Again.

Wednesday marked the second day in a row we’ve seen the market fade gains throughout the trading day, with the Dow dropping more than 300 points from its highs of the day during both sessions.

This is not encouraging trading action.

“As we know, a lot of people look at the direction of the primary trend based on the direction of the 200-day moving average. And while the market is below that declining 200-day moving average, I think that points to [higher] odds of breaking to the downside.”

Source: Yahoo Finance

https://finance.yahoo.com/news/market-t ... 12126.html
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Re: US - Market Direction 41 (Mar 18 - Dec19)

Postby winston » Mon Dec 17, 2018 7:46 am

Monday

SP500 broke 2600 and supposedly that sets up further downside. In the time of algos, beware of breakdowns.

Sentiment is rather extreme as reported by the AAIA, outflows from stocks are at a record. From a sentiment standpoint you have to watch for a reversal.

Leadership remains weak, so any reversal from a breakdown, a false break if you were, expectations would be for no more than a rebound within the range.

Right now many people are in no mood to play a rally. Understandable given the selling, and more likely to come even if the Fed backs off after next week's rate hike. At least everyone assumes a rate hike.

The point is: when you feel beat up, when the last thing you want to do is play any upside, when you see the money outflows and feel that is the right move, that is when you really need to consider playing some upside if stocks in quality patterns make solid moves.

Wednesday is FOMC rate hike day. A hike is expected, and if one does not come it is said that would be a shock. Perhaps, perhaps not.

Friday is expiration. The Wednesday FOMC meeting and subsequent statement will be Powell's most important as backs away from his hard line stance. Can he dance for the markets? Does he care? We will see.

Source: Investment House
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Re: US - Market Direction 41 (Mar 18 - Dec19)

Postby winston » Mon Dec 17, 2018 7:46 am

Monday

SP500 broke 2600 and supposedly that sets up further downside. In the time of algos, beware of breakdowns.

Sentiment is rather extreme as reported by the AAIA, outflows from stocks are at a record. From a sentiment standpoint you have to watch for a reversal.

Leadership remains weak, so any reversal from a breakdown, a false break if you were, expectations would be for no more than a rebound within the range.

Right now many people are in no mood to play a rally. Understandable given the selling, and more likely to come even if the Fed backs off after next week's rate hike. At least everyone assumes a rate hike.

The point is: when you feel beat up, when the last thing you want to do is play any upside, when you see the money outflows and feel that is the right move, that is when you really need to consider playing some upside if stocks in quality patterns make solid moves.

Wednesday is FOMC rate hike day. A hike is expected, and if one does not come it is said that would be a shock. Perhaps, perhaps not.

Friday is expiration. The Wednesday FOMC meeting and subsequent statement will be Powell's most important as backs away from his hard line stance. Can he dance for the markets? Does he care? We will see.

Source: Investment House
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: US - Market Direction 41 (Mar 18 - Dec19)

Postby winston » Mon Dec 17, 2018 7:46 am

Monday

SP500 broke 2600 and supposedly that sets up further downside. In the time of algos, beware of breakdowns.

Sentiment is rather extreme as reported by the AAIA, outflows from stocks are at a record. From a sentiment standpoint you have to watch for a reversal.

Leadership remains weak, so any reversal from a breakdown, a false break if you were, expectations would be for no more than a rebound within the range.

Right now many people are in no mood to play a rally. Understandable given the selling, and more likely to come even if the Fed backs off after next week's rate hike. At least everyone assumes a rate hike.

The point is: when you feel beat up, when the last thing you want to do is play any upside, when you see the money outflows and feel that is the right move, that is when you really need to consider playing some upside if stocks in quality patterns make solid moves.

Wednesday is FOMC rate hike day. A hike is expected, and if one does not come it is said that would be a shock. Perhaps, perhaps not.

Friday is expiration. The Wednesday FOMC meeting and subsequent statement will be Powell's most important as backs away from his hard line stance. Can he dance for the markets? Does he care? We will see.

Source: Investment House
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: US - Market Direction 41 (Mar 18 - Dec19)

Postby winston » Mon Dec 17, 2018 7:55 am

CHARTS

DJ30, SP500: Both closed at a new selloff closing low though still inside the October and November lows. The Dow is fading back to test that 2016 trendline once more. MACD still holding up for now.

NASDAQ: Gapped and sold off to the 2016 trendline, holding just over the November lows. Okay, NASDAQ at the lick log. MACD remains strong, areas such as software remain surprisingly strong, holding up NASDAQ.

SOX: Dancing over the June 2017 peak, the last one before the run to the high in February 2018. Still over the October, November, December lows and that keeps SOX in the game.

RUTX, SP400: Both diving lower, gapping and selling off to lower lows. SP400 is now lodged in the middle of the March to August 2017 trading range. This is an impressive, impressive selloff.

Source: Investment House
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Re: US - Market Direction 41 (Mar 18 - Dec19)

Postby behappyalways » Sat Dec 22, 2018 6:54 pm

US stocks suffer worst week in a decade
https://www.bbc.com/news/business-46654064
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