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 !

Looking into the looking glass

Market analysis weekend of May 12 2018

The way employed here is always reactive not predictive. We do not forecast we just react to the market. For 6 weeks it indicated to us to be out in the sidelines. We look at the major indexes at the end of the day for 10-25 mins and based on price and volume we see if we enter or exit.

Price is the only true North Star. Volume indicates the commitment by 100s of institutional buyers with total of billions of dollars to buy.

#1 and only priority is preserving our capital at all costs check our method how and why

Market is in rally and things are looking good but I will explain why we should still wait 1 more week or less

53.4% of stocks in S&P 500 are above their 100 day SMA (say there are 100 stocks in entire market 53 stocks are above their price averaged over their last 100 days) 1st chart

This week delta market sentiment turned bullish after 6 weeks of bearishness

The Nasdaq closed above its 50-day moving average for a sixth session in a row. The S&P 500 did the same for a third session in a row.

The Nasdaq needs only a 1.3% advance to bump up against the 7500 price level. But the S&P 500 needs a 2.7% gain to test the 2800 level.

Dow 25000 is quite nearby

Accumulation distribution (A rating is top and E ratings is bottom ) for S&P is still D

NYSE advance decline line has made a new high. Above chart 2 . But you see, only on May 9th on above average volume with solid volume increase did S&P clear the 50 day Simple moving average (SMA )

It’s good to be cautious and not jump in.. we need to let it play. All the indexes are close to the Previous all time high potential resistances. Things just began to look up and this coming week will let us know