Stock Market Update - December 10, 2022

 Stocks are starting to look a little bit better with some of the indicators getting poised for positivity. We're not there yet but at least there is some improvement. It's been a about a year for this market's downturn.

Green represents a glimmer of hope but doesn't make the indicator positive until the moving average line slopes up.

Indicators:

1. DOW - 30 Week Moving Average Line flat, close above the line
2. S&P - 30 Week Moving Average Line flat, close above the line
3. NASDAQ - Below the line 
4. Global DOW - 30 Week Moving Average Line flat, close above the line
5. NYSE AD and DOW Convergence - Both down
6. NYSE AD 200 Day Moving Average
7. NYSE 52 Week Highs and Lows

 

 I am hopeful 2023 will be the year we turn the tide, until then let's watch the tape!

Stock Market Update - January 21, 2022 - Signals Down

 From my perspective, we are now entering into Stage 3 for the major indexes, all of which are now below their 30 week moving averages. At this point, the moving average line is slightly up or flat, it is not going down into Stage 4. Interestingly, the global Dow is above. Generally it lags the US markets but not this time.

 

• Broad indexes except GDOW are below their 30 week moving averages 
• DJIA vs NYSE A-D: Both Down
• Divergence: DJIA vs NYSE High/Low: Both Down
• 200 Day MA NYSE A-D: Below the line for the first time in a long time
• NYSE  52 Wk Highs-Lows Diff: -519 meaning more stocks were at their lows

Tech took the biggest hit this week.

 

Stock Market Update - October 23, 2020

Not much change in the stock market. It continues to hold steady. The Moving Average line on the global DOW is not slanting upward which is a positive sign.

With the election a couple of weeks away, Stock Chart's Three Takes on the Presidential Cycle article by David Keller is timely. Stan talks about presidential cycles in his book and I think Tom McClellan pretty much presents a similar viewpoint.

It's been awhile since we've looked at COVID-19. I am hoping the two charts below from the CDC provide some glimmer of hope. Cases are going up, but deaths are not.

 Total Cases

 

 

Total Deaths

 

News: Britain votes to leave the European Union

Futures are down this morning as news of the UK vote is soaked in. We are in for a wild ride as market sort through the impact of the vote. Mr. Market likes predictability and this is anything but!

U.S. Stocks: Dow futures down 500 points pre-market 

This may bring us some buying opportunities, but wait until the dust settles.

Cheers.

Indicator 8: International Markets

When gauging the weekly market breadth, it is important to include a view outside of the United States. The Global Dow is reviewed to see if it is moving in the same direction as the Dow, NYSE, Nasdaq and SPY indexes.  I take a weekly view and see if it is above or below its 30 week moving average, and to see if it is moving in the same direction as the US Markets. As of this post, the Global Dow continues to struggle. It has been below its 30 week moving average for months, and, the moving average line is sloping down. Both are bear signals.

Links:

• Wikipedia Global Dow explanation
• Stockcharts GDOW chart