Attention: your browser does not have JavaScript enabled!

For full functionality of this site it is necessary to enable JavaScript.
Click Here to learn how to enable JavaScript.

decision point logo
  • Home
  • About Us
  • Subscriptions
  • Blogs and Links
  • Research
New around here? Subscribe now! Forgot password?

Manage Account

  • HOME
  • ABOUT US
  • SUBSCRIPTIONS
  • BLOGS AND LINKS
  • RESEARCH

The Usual Leaders Are Lagging

Published on November 08, 2022 at 01:39 PM by Carl Swenlin

DecisionPoint Alert

As of today, five of the eight major indexes we track have IT Trend Model BUY signals. This is determined by the 20EMA being above the 50EMA (Silver Cross). This is a good start toward broad market recovery, but unfortunately, all eight indexes have LT Trend Model SELL signals, which means that the 50EMAs are below the 200EMAs (Death Cross), and that condition will take a lot more positive action to correct. The three IT recalcitrant indexes (still on IT Trend Model SELL signals) are the S&P 500 (SPY), Nasdaq 100 (QQQ), and the Nasdaq Composite (ONEQ), indexes which normally lead the market.

Looking at the charts (snapshot taken today at about 11:20 ET) we see that the chart patterns are very similar, but that the Nasdaq 100 and Nasdaq Composite are not even above their 20EMA. They will have to get above their 20EMA and 50EMA before an IT BUY signal has any chance of being generated. The question is why are those three indexes lagging?





The shortfall is not a big mystery. Four super-large-cap tech stocks, which usually support the market are in dire straits. They all carry heavy weight in the three cap-weighted market indexes that are in trouble. The charts below show the extent of their bear market drawdowns so far. Note that all four stocks are below their 20/50/200EMAs, and no turn around is going to get started until that changes.

Conclusion: Five of the major market indexes we track are improving, but the extent to which all indexes will improve will be in question as long as the large-cap tech stocks are dragging behind.



Technical Analysis is a windsock, not a crystal ball. --Carl Swenlin

(c) Copyright 2022 DecisionPoint.com


Helpful DecisionPoint Links:

DecisionPoint Alert Chart List

DecisionPoint Golden Cross/Silver Cross Index Chart List

DecisionPoint Sector Chart List

DecisionPoint Chart Gallery

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)

ITBM and ITVM

SCTR Ranking

Bear Market Rules


DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.

Blog Archive
Previous Article
Next Article

Contact Us

Email: support@decisionpoint.com

© Proudly created by Alamo City Marketing Solutions

Socialize With Us

DecisionPoint logo

DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. None of the DecisionPoint newsletters or web site materials should be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.

DecisionPoint does not represent or endorse the accuracy or reliability of any of the information, content, or advertisements contained on, distributed through, linked from, downloaded or otherwise accessed from any of the services contained on this web site or in our newsletters, nor the quality of any products, information or other materials displayed, purchased, or obtained by you as a result of an advertisement or any other information or offer in or in connection with the materials. You hereby acknowledge that any reliance upon any Materials shall be at your sole risk. It is your responsibility to verify from other sources, such as your broker, critical elements of a decision to act. DecisionPoint reserves the right, in its sole discretion and without any obligation, to make improvements/changes to, or to correct any error or omissions in any portion of the Materials.

THE SERVICE AND THE MATERIALS ARE PROVIDED BY DECISIONPOINT ON AN "AS IS" BASIS, AND DECISIONPOINT EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, WITH RESPECT TO THE SERVICE OR ANY MATERIALS AND PRODUCTS. IN NO EVENT SHALL DECISIONPOINT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES OF ANY KIND WHATSOEVER WITH RESPECT TO THE SERVICE, THE MATERIALS AND THE PRODUCTS.