what’s going on in the market

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Friday Sept 28th around 10:00 am IST 00:30 am just past midnight New York time

today would be the last trading day of the month and also the last trading day off the quarter

Yesterday prices faded as the day ended. In the above chart $S5FI – The percentage of stocks in S&P 500 that are above their 50 days SMA…they have fallen the entire week!

18 points fall from August 29th from 73 to 55.

last time from June 12th to June 28th s&p 500 fell 83 points and $S5FI fell 21 points .

So that is a red flag

but the A/D line for NYSE actually went up

So i am little confused. Why did the market fade away so badly yesterday ? What are stocks falling below their 50 day SMA?

Now price is the true north star so

my decision  : I will continue to be long on QLD and I am also long on NQ

 

big red flag exiting NQ

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Tuesday Sept 25th 2018 around 10:30 am – 12:30 a IST, which is past midnight Tuesday 01:00 am – 3:00 am Tuesday New York Time

I have exited NQ with around 60 points gain. Looking at the above chart. biggest red candle in the number of S&P 500 stocks that fell below their 50 days SMA . Its a 10 point drop ! S&P 500 dropped little more than 10 points. Very great anomaly. for a 0.3 % drop in S&P 500 the number of S&P 500 MEMBERS that dropped below their 50 DAY SMA fell by 15%.

NYSE advanced declined line – 1918 stocks down on 2.3 billion volume. Only 896 stocks up on 992 million volume

one positive sign : NDX opened at 7477 with 45 points gap down from previous day close.

now that was the lowest too! It swung up 71 points to close around 17 point more than previous day’s close!

my decision : i have already exited NQ, I am continuying to hold on to QLD

 

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

 

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.