Market weekend review week of Sept 17th 2018

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looking at the big picture of weekly chart we see that it is  good picture

trading what we see rather than what we think is key. the chart is explaining to us that the price action is good and majority of stocks are above their 50 days SMA in S&P 500.

1 red flags though. QLD daily in H-A price charts – it has a 3rd red volume bar on a green candle stick. but the volume is less than 1 million.

NASDAQ is down 2 % off its all time high. NYSE Advance Decline line A-D line, which is a breath indicator, is slightly below its all time high.

Market sentiment indicator is up for the week 56.9.

Decision : I am still long on QLD and NQ.

the funds were buying everything

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Friday, September 21st 2018, around 9:00 am IST, around 11:30 pm Thursday Night New York Time

S&P 500 and Dow Jones Industrial average rose to all time high. Out of 197 industry groups tracked by IBD winners led losers by 7 to 1 !!

Look at the above chart – a 7.29 % jump in percentage of stocks in S&P 500 trading above 50 day SMA!  to 70.03!

Important note : Friday is quadruple witching day. Volume is going to explode.

QLD good up day, good upswing above 9 Day EMA, good volume – 1.174 Million. OBV increased to 11.83 million

NYSE Advance decline line – fantastic and highest! 1907 stocks up on 2.48 Billion volume, which is about 4 times the volume of 898 stocks down on 0.70 billion volume !

Top bull day!

Decision : i will continue in the market Long on QLD and NQ

 

unchanged Yom Kippur

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market remains unchanged. 65.27 % of S&P 500 stocks are above their 50 Days SMA.

Look at the chart above – QLD is in candle sticks weekly 2 years chart

IGV is software setor ETF and XLV is health care sector – QLD is up 124 % and

IGV – 76 % and XLV 30%

Nothing beats QLD

Decision : I will continue to be long on QLD and NQ

good rebound, neat charts

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When the market fell on Monday, Look at the first chart – how much percentage of S&P 500 stocks fell below their 50 Day SMA? Just minuscule!

the second chart is the ETF FFTY is top 50 growth stocks in the market. It is holding well.

NFLX went up well in high volume on Monday.

Decision : I’ll continue to be in the market and am long on QLD and NQ.

Weekend Saturday September 15th Market analysis

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  1. NDX 3 months daily chart comfortably above the 9 EMA daily (7519), currently at 7545.50, about 25 points above 9 EMA Daily.
  2. on Friday NDX did not give up so much of any of Thursday’s gains.
  3. 2 red flags on QLD Wednesday and Friday last week 12th and 14th September – Green price candles on Red volume in Heiken – Ashi chart. good volume 1.39 and 1.27 million.
  4. ES broke all short term nasty resistances at 2890 and 2895.
  5. good sign – NYSE advance decline line 5 days of increase. 1433 stocks up in 1.58 million volume and 1344 down in 1.27 million volume.
  6. Accumulation Distribution – C- on S&P 500 and B- on NASDAQ.
  7. Market sentiment indicator – since Thursday (sept 5th) and Friday (sept 6th) was big fall in the market the sentiment indicator went down from 62.3 to 56.1.
  8. very good sign – the above chart – the percentage of S&P 500 stocks above their 50 day SMA has gone up top 68.45 !

decision – i am going to stay in the market.

another bottoming day

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Thursday, September 13th 2018 at 8:20 am Indian Standard tine and around 10:51 pm September 12th in NYC

it is a third day of bottoming for NASDAQ.

NASDAQ lost almost 1.1 % yesterday at one point of time then recovered well with a loss of little more than 0.2 % in slightly higher volume – green flag.

A/D line for NYSE has actually improved – 1554 stocks up in 1.95 billion volume and 1226 stocks down in 1.19 billion volume. Good up volume almost double then down volume and majority of stocks up. Green flag

3rd day S&P 500 going up  and that too in higher volume.

S&P 500 stocks percentage above their 50 day SMA has improved to 65.14

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and FFTY actually went up

decision – I am staying in the market and NQ

What a upswing yesterday!

Wednesday, September 12th 2018, around 8:30 am Hyderabad, India; and around 11:00 pm Wednesday, September 12th 2018 New York Time

futures before opening did not look nice…NDX opened lower about 40 points! but immediately started going up and up 100+ points at close. That is a good upswing!

NDX solid support and bounce above 9 Week EMA. FFTY – top 50 growth stocks in the market good bounce above 9 Day EMA!.

Accumulation distribution line for NYSE – not as good as yesterday, but 1430 stocks up (majority of stocks) in good volume of 1.56 billion (better volume than yesterday)

most spectacular advance was NDX – low of 7401 and closed around 7507!

only red flag was the breath – IBD calls it ‘curiously soft’ ! Decliners led advancers by 15-to-13 in NASDAQ. Well there is one other red flag – % of S&P 500 stocks above their 50 day SMA declined by not that much to 64.55

One another thing – Apple, Amazon, Microsoft, and Google is 26 % of NASDAQ! Now these stocks are institutional darlings and heavy weight!. How are the institutions treating them ? Screen Shot 2018-09-12 at 8.45.50 AM

decision : I’m staying in QLD

and i am long on NQ 1 Contract

Happy trading