- Rank: 36
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- Votes: 79
- Years Member: 2
- Last Update: 1 December 2020, 16:14
Market Breadth Analysis
General Market Commentary
Market in bull mode (Chart 103).
Breaking out of trading ranges = bullish (Chart 110). Gold at 200-day -- oversold?
Possibly a moderate pullback (or not) sometime before mid-December.
The market could have a bigger pullback but that is not what it is saying -- the market looks strong.
ARK Funds large buys: LGVW and large sells: (none)
Ten I am stalking or holding: BPOP, BPYU, CHGG, CZZ, DVN, MATX, MOD, NBLX, ROKU, RYAM
Note: each of these are in different industries to diversify risk and no pending earnings.
Last week average 3.7% vs market 2.3%.
*New ==> Also providing these potential flyers: CIIC, OM, STTK
Started small positions in precious metals.
Could I be wrong? You bet! When I realize I am I try not to stay wrong for long.
101 Buy-and-Holders: Fed has your back = bullish
102 Investors: breakout = bullish
103 Swing Traders: bullish
104/105 Active Traders: bullish
106 Aggressive?: bullish except tech, expecting comeback
107 Defensive?: down = bullish for market
108 Top?: no top indicated
109 Bottom?: no bottom indicated
110 Intermarket: consolidating in trading ranges, nearer the top = short term bearish
111-113: Sector strength: bullish
114 Cap size & growth/value: mid/small up = bullish
115 Factors: --> strong rotation = broadening = bullish
116 US Dollar: weaker; need down to help precious metals and materials
117: Asset Rotation: Stocks 34 (+1), Bonds 2, Real Estate 3 (-1), Gold 0
400-405: Various factor ETFs side by side, and relative strength (RS) versions as well
5XX-6XX: ETF charts for my son to reference
Recommend "Trading in the Zone" by Mark Douglas about the mental game.
Note: The profile says PRO but I am an engineer. Updates on weekends.
Finally: "It is enough to identify prevailing conditions and respond to them as they change, without any need to predict." -- John Hussman
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