- Rank: 38
- Followers: 16
- Votes: 20
- Years Member: 1
- Last Update: 23 May 2020, 21:16
Market Breadth Analysis
General Market Commentary
The market looks tired but maybe it is just resting before another push higher. I know I am tired trying to find things to buy. Worse, I am anxious holding because I do not trust the market. Even though I had my best week ever, it is exhausting. (Note: Best week was because of the setups I found last week.) This week I went from 70% invested to 20%.
I think the market has limited upside. Probably in a trading range (2600-3150?). Good environment for stock pickers since even within industries there are major winners and losers.
Most charts answer a question.
No. Ans. Desc.
101 Hold Buy-and-Holders (bet on the Fed)
102 Buy Investors (pullbacks)
103 Buy Swing Traders (pullbacks to 20-day)
104 Buy Active Traders (stock picking)
105 Yes Aggressive? (selective)
106 No Defensive? (except gold)
107 No Top?
108 --- Bottom? (not applicable right now)
109 Factors: QQQ
11x series are mostly other asset charts
No. Sym Ans. Val
201 VTI OFF 7 (buy, or rather need to dive lower to find what is working e.g., software, biotech)
202 TLT ON 8 (up from 7)
203 IAU ON 9
204 IYR OFF 3 (down from 5)
205 IEMG ON 6+ (just reporting the facts here)
206 USO OFF 5
Charts for reference but many require a PRO account to fully see:
4xx series are industry areas paired with a relative strength versions
5xx 1-minute charts to look for confirmation of price moves
Stock selection approach: See Chart 119
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
All information is strictly for education.
Various ETFs across the technology and communications industries (for reference only).
$DJUSEC Electrical Equipment (cannot find a focused ETF for this)
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