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

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

big picture for the week of September 4th

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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

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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

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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!

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Five days decline in s&p 500 since august 29th top

  1. Present price action has been down. There has been a cluster of high volume selling, august 30th, Tuesday and Wednesday. red flag.
  2.  both S&P 500 and NASDAQ above 22 SMA. green flag
  3. Accumulation and distribution rating has fallen since August 29th top from C- and B for S&P 500 and NASDAQ respectively to D and C-. Red flag.
  4. A/D line for NYSE – 1649 Stocks down in 1.95 billion volume and 1138 stocks up in 1.07 billion. volume actually declined but stocks down on double the volume. Red flag.
  5. % of S&P stocks above 50 days SMA is 67.42 and it stabilized last 3 days with a bounce of 64.43. – Green flag.

decision : Be in QLD avoid long on NQ

Yesterday made 22 points on NQ because of price action.

 

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 !