- Rank: 36
- Followers: 28
- Votes: 233
- Years Member: 3
- Last Update: 19 June 2021, 12:28
Market Breadth Analysis
General Market Commentary
We are back to where we were eight weeks ago but this time with more strength. The good news is tech/growth stocks broke their recent failing trend and pushed higher. Call me cautiously bullish.
Though I can find data in the bond market that makes me cautious*, the weight of the evidence is that we are pushing higher for now. This Friday is expiration for monthly and quarterly options so it can be volatile for the next two weeks.
* The bond market is usually right, but often early.
To track holdings/buys/sells for the ARK funds:
Consider these ETFs: AMLP ARKG IBUY LIT PBW QQQ SMH URA XLRE
101 Buy-and-Holders: Fed has your back = bullish
102 Investors: bullish
103 Swing Traders: bullish
105 Storm Track: bearish
106 Aggressive?: bearish but XLK showing strength
107 Defensive?: leaning bearish for market
108 Top?: no immediate top indicated
109 Bottom?: no bottom indicated
110 Intermarket: leaning bullish intermediate term?
111-113: Sectors (cap weight, EW, small cap): bullish tech, comm, real estate
114 Size & style: growth, large
115 Factors: large growth domestic
116 US Dollar: turning up= bearish for foreign and commodities
400-405: Factor ETF relative strength (RS): TLT PBW IBB XLK IGV
5XX: ETFs for reference
"Trading in the Zone" by Mark Douglas about the mental game.
Note: Profile says PRO but I am an engineer. Updates on weekends.
"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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