Weekly Stock Market Update: Reversal to Positive

We had a bit of a reversal this week with the Fed announcing interest rates will stay the same for now with the usual indication they may raise rates in the future. There is no place to put your money for a decent return, and as a result, the market responded favorably.

Barron's data (click here) is showing a return to more highs than lows.



 

 

Weekly Stock Market Update: Caution Flag

The market is showing some signs of weakness. The major indexes average close lines are moving down towards the 30 week moving average. We barely had more new highs, than new lows this week. The Dow increased while the NYSE Advance-Decline decreased. All of this points to some caution in the weeks ahead.

Weekly Market Update: Caution Ahead

There are some indications in the major indexes that we could be headed for a correction. The Dow, S&P, NASDAQ and GDOW are all approaching their 30 week moving average lines. They could bounce back this week, but we should remain cautious.  Remember to have protective stop losses on any current investments. I won't be surprised if some of my more recent investments get stopped out this week.

Weekly Stock Martket Update: Positivity Continues

The market continues to trade within a range. All my indicators remain in the positive.
I recently bought some BlackRock stock. Here is a screen from ChartMill showing how it is doing. It is 3 weeks into Stage 2 (see the bottom chart with the green bars). The Relative Strength is positive (see the middle chart), and the 30 week moving average (see the red line on the top chart) is positive and the close is above the line.

Chartmill is a great site to use for Mansfield indicators and scanners. You can sign up for free and buy credits too. I like to buy credits for scanning when I am looking for new opportunities. Here is a link to their documentation on Weinstein Indicators.