Stocks continued their October run with the S&P 500 SPDR, S&P 500 EW ETF and S&P MidCap 400 SPDR hitting new highs. Participation is clearly broadening and this is reflected in the percentage of S&P 500 stocks above selective moving averages. There were also 17 new uptrend signals via the StochClose indicator.
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The Biotech ETF (IBB) is a rather peculiar ETF because of the performance differentials among its components and the changing of the weights. Moderna (7.84%) and BioNTech (3.82%) account for almost
The Market Regime remains bullish and participation broadened here in October. The Finance SPDR and Consumer Discretionary SPDR hit new highs in October, and the Technology SPDR ended its correction with a breakout. Broadening participation comes from the Industrials SPDR and
This page shows the current Market Regime using the Composite Breadth Model and the situation in the credit markets with yield spreads. These indicators are very different, but they go hand in hand when assessing the state of the stock market. Stocks perform best when credit markets are not stressed
SPY and QQQ ended their corrections with breakouts last week and this is bullish for the broader market. Small-caps (IJR) are also making a breakout bid as strength within the market broadens. In particular, we are seeing leadership from ETFs associated with industrial
Stocks surged again on Thursday, but this week’s surge was different than the Thursday’s surge the prior week. SPY and QQQ followed through after the open and S&P 500 breadth showed broad participation. Small-caps also bounced, but the S&P SmallCap 600 SPDR
The S&P 500 SPDR (SPY) followed through on last week’s gap with a gap-surge on Thursday. In contrast to last week’s gap, SPY moved higher after the strong open on Thursday and formed a long white candlestick. The open is near
Even though breadth during the recent pops was uninspiring, the bulls are not backing down and we are in a bull market environment, as per the Market Regime page. There are really only two trading/investing options in a bull market: long or cash. Short positions are not realistic options. There are
Stocks surged on Thursday with SPY and QQQ gapping higher in an attempt to end their pullbacks. The gaps-surges are largely holding, but breadth was lackluster and techs fell back on Friday. Rising Treasury yields are influencing current market dynamics. This creates a headwind for
The S&P 500 and broad market indexes popped on Wednesday-Thursday. We also saw short-term breakouts in a number of ETFs. Are these breakouts enough to end the corrective period that began with the September decline? Or, is this just a short-term head fake that will
There are plenty of ETFs with corrections or downtrends the last few months, but some of these are showing short-term relative strength. Similarly, several tech-related ETFs firmed with hamari on Monday-Tuesday and closed strong on Wednesday.
Large-caps finally pulled back with the S&P 500 SPDR falling around 5% in September. Small-caps held up better with a smaller decline. Overall, there was a rotation underway in September as money moved into banks, energy, airlines and defense.
The streak finally ended as the S&P 500 fell more than 5%. Using SPY as the proxy, the ETF had gone some 227 days without a pullback of more than 5% (closing prices). The 5.31% decline here in September is the largest since October 2020. SPY fell around 10% in September
There are some new trend signals over the last five days. The Bank SPDR (KBE) and Regional Bank ETF (KRE) followed through on last week’s surges and StochClose moved above 60 to turn bullish. Also notice that the 52wk Range
Signs of a market rotation began to appear last week as the 10-yr Treasury Yield surged, the 20+ Yr Treasury Bond ETF plunged and the Regional Bank ETF advanced over 3%. Techs and high-flyers held up relatively well last week, but got pummeled on Tuesday with many falling more than 3%.
As its name implies, the Zweig Breadth Thrust quantifies bullish breadth thrusts using a setup level and a signal level. The setup occurs when the 10-day EMA of Advances / (Advances + Declines) dips below .40 and the bullish signal triggers
Stocks were hit hard on Monday-Tuesday with dozens of ETFs becoming oversold, including SPY. These oversold conditions gave way to a strong rebound the rest of the week with Finance and Energy leading the way. Bonds threw a small tantrum after the Fed meeting as the
The Fed has yet to actually start tapering, but dropped some hints that it would if the economy continues to strengthen. The bond market, which tends to lead the Fed, reacted violently as the 20+ Yr Treasury Bond ETF fell over 2% and the 10-yr Treasury Yield broke above
After a dozen new uptrend signals in late August and early September, the tide changed as the S&P 500 experienced its first 4-5 percent pullback since May. This pullback was enough to reverse some of the new uptrend signals and there were 14 new downtrend signals over the last five days. I am referring only to the 113 equity-related ETFs
The Market Regime remains bullish and the S&P 500 is just 4% below its recent high, but breadth has been waning for months and many groups are already in corrective mode. The 4% decline