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- Last Update: 1 March 2021, 9:23
Market Breadth Analysis
General Market Commentary
The week was even worse than expected (S&P -2.5% and Nasdaq -4.9%). The original plan for the week was to make buys to get ready for a strong first week of March but the plans changed mid-week. It was prudent to go into protect mode and reduce exposure (sell some).
There are no signs of market meltdown and I am still looking forward to a good first week of March and ready to act quickly. (See Chart 103 comments on why I think the correction may be over.)
However, there will need to be signs of strength before getting fully invested. One example of what I want to see is the S&P to finish the days above its 5-day moving average.
Real assets are developing: commodities (oil, copper, steel, etc) and real estate. Industrials too.
ARK funds large buys: ACIC BFLY CMLF PLTR TWTR and large sells: AAPL SNAP TCEHY TSM
Spreadsheet to see trends in ARK:
101 Buy-and-Holders: Fed has your back = bullish
102 Investors: bullish
103 Swing Traders: caution
105 Storm Track: short term bearish
106 Aggressive?: on edge
107 Defensive?: down = bullish for market
108 Top?: no top indicated
109 Bottom?: no bottom indicated
110 Intermarket: bullish
111-113: Sector relative strength: tech down but indus. and energy up = bullish rotation
114 Cap size & growth/value: rotate to value = bullish
115 Factors: reversion to the mean = bullish
116 US Dollar: borderline bullish
117: Asset Rotation: Stocks 2, Bonds 0, Real Estate 3, Gold 1
400-405: Factor ETFs and relative strength (RS) versions as well
5XX-6XX: ETF charts for my son to 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
All information is strictly for education. .
Various ETFs across the consumer industries (for reference only).
XLY Consumer Discretionary
XLP Consumer Staples
ITB Home Construction
PEJ Leisure: HLT YUMC VIAC DIS
Various ETFs across the energy and utilities industries (for reference only).
XOP Oil Exploration and Production: DVN PE MPC OXY
IEZ Oil Equipment and Services: SLB HAL BKR HP
ICLN Clean Energy
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