Overbought Trading Conditions, Yet Still Bullish – The Market Breadth

Overbought Trading Conditions, Yet Still Bullish

Stock Market Commentary We made it through another week without any major negative headlines impacting the stock market. Although late-breaking news took futures down due to Moody’s dropping the U.S. from its top credit rating, marking the loss of the last top-tier assessment of U.S. government debt, I expect the market impact to be minimal. … Read more

Stock Chart Reviews – Snapshots of the Fresh Bearishness

Stock Market Commentary: After much resistance to Fed hawkishness, the U.S. stock market gave way to fresh bearishness. The major indices dropped into new depths of the bear den. The stocks below are snapshots of the latest deterioration in the price action and decline in the technical health underlying the stock market. The ARK funds … Read more

A Key Breakout Cracked the Back of the Bear Cycle – The Market Breadth

Stock Market Commentary I turned bearish on the stock market over two weeks ago. Last week began with confirmation as sellers followed through on a fade from a brief rally. Mid-week, the downward momentum came to a screeching halt as buyers took over most of the trading action. I pointed out the key signs suggesting … Read more

Overbought Conditions Remain Elusive As Market Wavers Ahead of the Fed – Above the 40 (July 19, 2019)

AT40 = 58.4% of stocks are trading above their respective 40-day moving averages (DMAs) AT200 = ~52.4% of stocks are trading above their respective 200DMAs VIX = 14.5Short-term Trading Call: neutral Stock Market Commentary A week ago, the S&P 500 (SPY) made a new all-time, and I was expecting a trip into overbought conditions. AT40 … Read more