Best quarter in 5 YEARS!!

CNBC has this “For the quarter, the S&P 500 rose 7.2 percent, its best quarterly gain since the fourth of quarter 2013.”

The article further adds this “The Nasdaq Composite also notched a 7.1 percent quarterly gain, its best since first quarter 2017. ”

DMSI – delta market sentiment indicator is 56.0

Screen Shot 2018-10-02 at 11.22.44 AM

s&p 500 stocks above their 50 day SMA stabilized after it declined entire last week.

my decision – continue to stay in QLD and long on NQ

Market weekend review week of Sept 17th 2018

Screen Shot 2018-09-22 at 11.04.58 AMScreen Shot 2018-09-22 at 9.57.30 AM

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

Screen Shot 2018-09-21 at 9.25.12 AM

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

 

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

big picture for the week of September 4th

Screen Shot 2018-09-08 at 8.58.15 AM

Overall a green flag for uptrend this week. But before that the schools are back in US, end of labor day, back to schools for summer. Traders, investors and Institutions are back in full swing..

The news with tariffs and stuff has not really jittered the market. Lets looks at the big S&P 500 weekly chart

Screen Shot 2018-09-08 at 8.55.05 AM

what a wonderful uptrend!. Neither the S&P 500 nor NASDAQ nor NDX has broken below the 9 Week Exponential moving average. the above chart is brilliant and beautiful!

the Jan 2018 high of S&P 500 is around  2872  now recently we move 1.5 % above the January high and has very timidly retreated. it closed 2871 yesterday.

FFTY – the top growth stocks in the entire market has put in 1% yesterday.

NASDAQ lost 185 points this last week and is down 2.2 % for the week.

Market sentiment indicator – measuring from Thursday to Wednesday went down just 1 point to 62.3

Screen Shot 2018-09-08 at 9.23.05 AM

my only concern is the above chart – For 6 days it went down. yesterday it dropped 3.17 % points but look at the above chart a weekly uptrend from July 2nd 2018!

decision : stay in QLD and NDX but wait on NQ because of the volatility!

Look at chart below – what a wonderful chart – lowest unemployment ever!

Screen Shot 2018-09-08 at 8.57.42 AM

 

 

 

Nice start for September 2018 for market

Screen Shot 2018-09-05 at 8.45.47 AM

FFTY is the index of leading stocks in the market. It is actually an ETF. the market’s leading growth stock. It is an excellent indicator of general health of the market, for the institutional buyers buy the best stocks in good times, and dump them to preserve their profits in bad times.

Since Aug 20th 2018, FFTY went up around 7%, NASDAQ up 4%. that is brilliant and beautiful.

they have been 4 high volume selling in the market last 30-40 trading days. a good count and not that bad. yesterday (i am here in Hyderabad India with my parents and it is wednesday here September 5th 2018 around 9:00 am) the volume came up above Friday. Now it is not bad because it is a labor day holiday weekend volume..

the Accumulation Distribution line for NYSE has reversed with 1810 stocks down on 2.01 Billion volume and 990 stocks top in 0.94 billion volume and the number of S&P stocks that have been trading above their 50 day SMA is fallen down since last August 29th till yesterday, Wednesday to Wednesday – which is just 4 trading days, from 73.75 to 66.48 7%. these 2 are red flags.

QLD volume is 768 K and it is a red H-A candle with red volume but not significant volume. QLD wonderfully above 9 EMA daily chart and a nice bounce yesterday.

Near term NQU18 near term resistance is 7650 and then 7693 and then 7697

decision : wait in NQ to enter stay in QLD long

Happy trading

 

 

 

Market at the top, will history repeat?

Current market participation : unfortunately because of 12 hours time difference between bali (I am currently in Bali Indonesia ) and NY, I am currently not participating in the market. Timing is critical during breakouts and It is sleeping time here when market opens in NYC! If COMP moves up by 100 points than that is added to the risk if the breakout is missed.

This below info is for the readers.

Nasdaq hit all time high. March 12th week and April 2nd week crash stabilized the next 4 weeks. April 30th it retook the 9 week Moving average

From May 7th to yesterday the hole which was dug the market came out

Look at this chart below FFTY the top 50 growth stocks in the entire market

It just topping and topping

NYSE’s advance-decline line has now risen for five weeks in a row.

S&P 500 spent four solid weeks above its 50-day moving average. That’s the longest period of time since January. Technically speaking, that’s good. It means the rally is accelerating.

Accumulation/Distribution Rating the Nasdaq scored a B-, much improved from a D since May 10th uptrend start

And finally 65% of all stocks in S&P 500 are above their 50 day simple moving average

So Market hit a top. It is very likely to go up further

Happy trading !