Talk about volatility, last three days DOW has been down 394, up 240 and down 259. Today was an inside candle so another coin toss as to which way we go from here
while volatility has return to the stock market, looking at the weekly shows prices really have not moved that much compared to earlier weeks
US markets continue to weaken now with only 6 or 22 ETFâs above their 50 dma. There are a few bright spots, Biotech and Technology are bucking market trend, These are the areas you want to see leading if we are to see a bullish run in years last quarter.
All eyes this week will be on Fed Reserve rate decision , I believe this happens on Wednesday
With the fed taking no action on interest rates, oil and gold rallied, my two favorite ways to play this is the GDX and ERX, the two were up 6.75 and 7% today, if we get follow through tomorrow look for these two to rally over the next few weeks
YTD numbers for my top 22 ETFâs, I have added three columns for the 10,50 and 200 day moving average, green ball signals price above ma, areas above all three moving averages are strong. This might replace the excel sheet I have been posting.
We finished the week with most areas having strong gains, only negatives were Reits and Utilities
Chart below still shows a majority of the market below itâs 50 dma, suggesting market is still consolidating
Areas of the market with 3 green balls are strongest
Markets are mostly weaker to start the week, Weakest areas Utilities and Reits , strength in energy
11-9-21
More selling today, we are now starting to see the 200 ma taken out, we could be setting up for a black Monday, If that happens I will be a buyer
7-8-19
I dont get what I am looking at. At first glance I though it was a % change in the day andif price is about there respective averages. But The price of XME went lower from yeaterday but the POS% is 68.09% so sorry for a dumb questions but what am I looking at here
POS% is what this charting software calls Year to date %, , so the 68.09% is how much XME is up for the year and as you noted, XME was down on Tuesday which you saw reflected in the lower POS% number. You will also notice of the three major moving averages XME is only above the 200, indicating a major correction. hope this helps
Much of the market recovered today but still Utilities, Consumer goods, Reits. these are normal safe haven areas, so if those are being sold maybe the market is rotation to more riskier assets
11-10-19
Hope you are weathering hurricane Matthew ok.
Lots of rain so far but not much wind, I hope you are well away from the coast as it is coming right for you. Stay safe
We saw some reversals today as majority of market is back above itâs 10 day average
15-10-19
I am about 10 miles from the beach so it will be getting rough thats for sure
Markets were lower on Friday in most major indexes but only a little, NFP was a non event
10-8-19
Markets gap open higher but give back most of gains in afternoon trading, Energy stocks were the days big winners
14-9-19
Deep selloff today,
4-7-17
Nothing good to say about this market as we continue to pull back
2-7-17
Maybe market is finding a bottom
Side note; media has been saying markets want Clinton for President, but this drop in stock prices has coincided with Clintonâs rise in the Polls. In other words stocks were rising with Trumps rising number and fell when Trump fell. This is the first time I have notice any correlation with stocks and the Election
2-4-16
