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- Last Update: 19 April 2021, 10:05
Market Breadth Analysis
General Market Commentary
Yep, it is definitely a bull market. The only short-term concern is the steepness of the rise. Late last August there was a gap up and then a steep rise and the current market looks similar. I am expecting it to roll over a bit, but it will be a buying opportunity so I raised some cash to make new buys.
Chart 108 shows we may be getting close to some topping formation. I do think we are getting close (within weeks), but I expect it will be a garden variety pullback probably 5% - 7%, or less so most people should just ride it out and buy the dip.
JC Parets video: https://stockcharts.com/tv/episodes/all-star-charts.html
To track major holdings and buy/sell trends for the ARK funds see this spreadsheet:
Consider these ETFs: COPX IAI ITB PAVE RGI SMH XLP
101 Buy-and-Holders: Fed has your back = bullish
102 Investors: bullish
103 Swing Traders: bullish
105 Storm Track: cautiously bullish
106 Aggressive?: on edge
107 Defensive?: turning down = bullish for market
108 Top?: top appears to be building
109 Bottom?: no bottom indicated
110 Intermarket: cautious bullish
111-113: Sectors (cap weight, EW, small cap): bullish rotation
114 Size & style: rotation
115 Factors: revert to mean = bullish
116 US Dollar: minor breakout not bullish for foreign or commodities
117: Asset Rotation: Stocks 3, Bonds 4, Real Estate 1, Gold 2
400-405: Factor ETF relative strength (RS)
5XX-6XX: 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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