Buy and Sell Signals, Risk Analysis, Money Flow, Breadth, Momentum

Michael Pitre Author is a PRO memberHas Had Over 50 Followers Rank: 21 Followers: 66 Votes: 74 Years Member: 11 Last Update: 27 August 2016, 17:07 Categories: Market Timing
Trend Analysis
Swing Trading

etfmaintrends.com

Saturday August 27....The market continues to very slowly lose momentum. There is a rollover going on and internals are weakening somewhat. The selling pressure is increasing and this can be seen in on balance volume rolling over and force turning red. The downward pressure is not real strong but if we lose support at the 50 day ema and then the main pivot line at 2141 the selling will probably increase quickly and we will test support at the breakout level of 2134. Next week is full of economic releases with the big one on Friday...the jobs report. All indications are that it will be a solid number again. With the Fed talking rate hikes as soon as September the jobs report is a key to watch. If it is strong they are more likely to do something on rates next month. Eventually this market will have to shift from interest rate driven to earnings driven to continue the bull run.

Over the short term (last week), the list of various market segments in the order of performances - US Dollar [1.09%], US Small Cap [0.11%], Bonds [-0.15%], US Mid Cap [-0.15%], US Large Cap [-0.59%], Europe [-0.81%], Euro [-1.19%], Gold [-1.5%], India [-1.86%], China [-1.91%], Emerging Markets [-2.29%], Oil [-3.44%].

Now, let us see how the major sectors are fared over last week - Housing [0.53%], Semiconductors [0.49%], Financials [0.46%], Technology [0.06%], REITs [-0.33%], Materials [-0.57%], Industrials [-0.61%], Consumer Services [-0.64%], Consumer Staples [-1.11%], Transport [-1.31%], Energy [-1.42%], Healthcare [-1.73%], Biotech [-1.78%], Retail [-1.96%], Utilities [-2.23%], Oil Services [-4.15%].

Less

!

Sto 14 got down to the 2 level while the volume momentum oscillator at the bottom got to and extreme level...the market bounced. Looks like we are going down for
a retest of these extreme conditions. During the bull market usually the market made a substantial low after getting this oversold...but there are times where it
makes another test. This is going to tell us a lot about this market. What happens after a retest.

!

A Daily Chart of the major 'risk on' indexes.

!

Market Breadth Trying To Turn Higher...Breadth has not been strong enough to get the market through the layers upon layers of resistance.

!

Key Chart For Volume Analysis...This chart gives a good understanding of what internals look like from the up volume vs the down volume...has done well big picture

!

!

!

!

Market Sentiment With RSI 5 For VIX...RSI 5 got oversold for VIX and Sto for VIX has turned higher.

!

!

This information is presented for education purposes only. StockCharts.com is not responsible for any comments, advice, or annotations presented on this page. Please review our Terms of Use for more details.