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.

a good reversal in S&P 500

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Tuesday September 11th 2018 around 11:30 am IST around 2:00 am, Sept 12 New York

S&P 500 increased for the first tie in 6 days. the advance decline line A/D line had the first positive reversal – stocks up in higher volume for the first time in 6 days. – 1719 Stocks up in 1.46 Billion volume compared to 1061 stocks down in 1.17 billion.

Number of S&P 500 stocks above their 50 days moving average increased to 65.89 percent. – which is a good positive developer

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QLD Volume substandard with 990 K

Over all the market is still in uptread

Decision – I am continuing to participate in QLD

NQ – yesterday it was up and down – i stayed out

good fall in the market, 2nd in less than 25 days

today is : Thur September 6th 2018 around 9:30 am Hyderabad, India. Time in New York City : 00:08 am on Thursday September 6th 2018

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well them days!

a good pull back put some breaks and exits some people.. yesterday a good bounce off 22 SMA for QLD and NDX is a good sign

never the less the high volume sell off of last 25 -30 trading days has gone up to 5 for the entire market. the +1.2 % sell off in NDX had first occurred on August 15th and then just yesterday.

Now its the 5th continuous decline in S&P last 5 trading days but there is a silver lining. the accumulation distribution line A-D line has flattened with 1533 stocks down in 1.50 Billion volume and 1258 stocks up in 1.6 billion volume (yesterday was 990 stocks up in less than billion volume)

QLD has a clear slicing of 9 EMA on daily chart on higher volume – 517 K volume.

Now look at FFTY below – the leading growth stocks ETF. What a bounce above 22 day SMA and it closed just below the  9 EMA!

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decision : stay in QLD.

for NQ As soon as euro market is opening it is falling

currently : 7525 is a good support and 7550 and 7600 and 7625 is nice resistance

AMZN, MSFT, GOOG, APPL is 25 +% of NASDAQ! only APPL held good yesterday

Happy trading !