Today the S&P 400 Mid-Cap ETF (MDY) 20-day EMA crossed down through the 50-day EMA (Dark Cross), above the 200-day EMA, generating an IT Trend Model NEUTRAL Signal. Support is near but with a drop of this magnitude we think it will lose this support level...
Last week's hedges came in a bit too early, but one of them, the Small-Cap Bear 3x ETF stayed open and is now up over 8% on Friday's decline. The market looks exceedingly weak right now and this tells me we shouldn't be expanding our exposure...
The market declined heavily on Friday likely setting up for more downside ahead. We had already begun to notice that mega-cap stocks were beginning to weaken. You can see this on the relative strength line of the SPY versus equal-weight RSP...
Today the Health Care ETF (XLV) 50-day EMA crossed up through the 200-day EMA (Golden Cross), generating an LT Trend Model BUY Signal. We have a breakout from a near-term declining trend that looks encouraging. However, strong overhead resistance is already nearing...
I only had a few Reader Requests come in today, but I did find three of interest. I wanted to make a note about weekly charts. I include weekly charts to give us the context within the current move on the daily chart...
The SPY is making new all-time highs, but we can see on the Dow Industrials (DIA) that price is in a declining trend. Participation is still in a declining trend for stocks above their 20-day EMAs and is flat for stocks above their 50-day EMAs...
The scans did produce for ETF Day and I found two themes. I didn't go with the themes today, but thought I would share. First was Gold. There were more ETFs that follow Gold than I knew! There were plenty...
Today the Materials Sector ETF (XLB) 20-day EMA crossed up through the 50-day EMA (Silver Cross), generating an IT Trend Model BUY Signal. We have a nice breakout from a congested trading range...
I still sense we are nearing a market top, but it was clear that I didn't need to go short today based on what I'm seeing in the DP Alert on primary indicators. I also didn't have a large amount of shorting candidates in the Diamond Dog Scan...
Today the Real Estate Sector (XLRE) 20-day EMA crossed up through the 50-day EMA (Silver Cross), generating an IT Trend Model BUY Signal. Price peeked above resistance briefly but fell back below today...
I opted to present hedges this week and the market decided it would go up a bit higher. They were hit rather hard. I opted to take the inverse Bond ETF off the table, but am leaving the other two hedges in your court...
As part of the DP Alert, we cover Bitcoin and the Dollar every market day. We have been watching some bearish indications on both Bitcoin and the Dollar with the double top chart patterns. On Bitcoin, price has been moving mostly sideways above support at 90,000...
Today the Consumer Staples Sector (XLP) 20-day EMA crossed up through the 50-day EMA (Silver Cross), generating an IT Trend Model BUY Signal. This defensive sector has been on a solid rally. When defensive sectors lead, we are often near a market top...
Readers made their requests on the long side, not the short side. We saw another rally today, but I am concerned about a downturn, hence my limited exposure. However, I must say that the shorting scan (Diamond Dog Scan) didn't produce as many results as I would've expected...
Today the Russell 2000 ETF (IWM) 20-day EMA crossed down through the 50-day EMA (Dark Cross), above the 200-day EMA, generating an IT Trend Model NEUTRAL Signal. Price failed at overhead resistance and is essentially forming a double top...
Yesterday's longs aren't working out so well so I guess I should've gone with shorts rather than longs. Today I'm going to give you some hedges. First is the inverse for the 7-10 year Bonds (PST). I see a shift in interest rates...
Today the Biotechnology ETF (IBB) 20-day EMA crossed down through the 50-day EMA (Dark Cross), below the 200-day EMA, generating an IT Trend Model SELL Signal...
The scans did produce some good results, but not very many. I do not have any runner-ups for you today as I just wasn't enamored of enough charts to share more ideas. Be careful with your exposure...
Today the Technology Sector ETF (XLK) 20-day EMA crossed up through the 50-day EMA (Silver Cross), generating an IT Trend Model BUY Signal. The moving averages are on top of each other, and the signal could be reversed tomorrow...
The market rebounded to start trading on Monday, but indicators on Friday suggest internal weakness. Carl gives us his latest analysis on the market as well as taking a look at Gold which is making more all-time highs. Get Carl's perspective on the Gold rally...