n this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
In this product we rank the most positive and negative domestic stocks, filter the symbols bymarket-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
Pause/Pullback Continues But Oversold Bounce Likely Support levels discussed in our 8/8/23 Compass broke, leading to a change in character and a deeper pullback. Supports we were watching included the 50-day MA and 4460-4475 on the S&P 500, $371.50 on the Nasdaq 100 (QQQ), and $190-193 on the Russell 2000 (IWM); as long as these indexes are below these levels, we believe the pause/pullback that we discussed in our 8/15/23 Compass is likely to continue. Longer-term support on the S&P 500 is at 4...
LOVE, PII, UAA, AFYA, ABNB, HLMN, HPQ, AAOI, APA, KLXE, OVV, SBOW, RKT, EXPI, COIN, BX, RDFN, CRBU, IMNM, INMB, AIRS, VCYT, OFIX, BHVN, GBIO, PHAT, NBR, SLB, WHD, HAL, NOV, RES, USLM, TREX, SMG, TROX, TSE, WDFC In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that...
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
Small-Caps Starting to Lead We continue to see the current environment as a bear market rally with the potential for it turn into something more following bullish breadth thrust signals. Large-cap US indexes (S&P 500, Nasdaq 100) have been treading water for a week (bull flags?), but many other indexes such as the Russell 2000 (IWM), DAX, Hang Seng, MSCI China (MCHI), and China Internet (KWEB) have continued to move higher following their bullish reversals from the prior two weeks. We are also ...
S&P 500 Downtrend Channel Intact & Testing Support We see the S&P 500 as trading within a downtrend channel; as long as it remains within this channel, our intermediate to long-term outlook is bearish at the index level. With that said, the S&P 500 is currently testing support within the downtrend channel, and we are on watch for a potential bear market rally. S&P 500. Last week, on May 18th, the NYSE had a 93% downside volume day, effectively negating the May 13th 92% upside day. Still, the 3...
Fed Set to Hike 50 bps As Indexes Test Support We have warned over the past month that a test of the lows, and possibly a break to new lows, is increasingly likely on the S&P 500, Nasdaq 100 (QQQ), and Russell 2000 (IWM). This has played-out as we recently made marginal new lows amid additional indiscriminate selling on Tuesday and Friday last week. There is potential for an oversold bounce, but we will need to see back-to-back 80%+ upside volume days or one 90%+ upside volume day on the NYSE i...
10-Year Treasury Yield Testing 40-Year Resistance; Upgrading Health Care to Overweight Whether or not the lows for this correction have already been established remains to be seen, but evidence is mounting that suggests a test of the lows, and possibly a break to new lows, is increasingly likely. Regardless, continue to stick with the commodity and defensive Sectors, all of which hit new price and RS highs in recent days. 10-Year Treasury Yield. We have discussed our expectations for rising ra...
The general evaluation of OVINTIV (CA), a company active in the Exploration & Production industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date February 1, 2022, the closing price w...
Market Sending Mixed Signals; Stick With Value The market continues to send a mix of risk-on and risk-off signals, though most of the risk-on signals are centered around value Sectors such as Energy, Financials, Manufacturing/Industrials, and Materials (currently our favorite areas). Meanwhile, some of our big picture "lines in the sand" are being violated, including the Russell Micro Caps index (IWC) which is breaking below $134 as the Russell 2000 index (IWM) tests critical support at $207.50...
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
Value Sectors Take The Lead On Rising Global Yields Market dynamics remain largely constructive and critical supports are holding on the broad global indexes. Therefore, our global outlook remains neutral yet constructive, as we continue to expect more consolidation and mixed markets ahead. Index Overview. Key support levels that we have been focusing on for months continue to hold. Important support levels we are watching include $54 on MSCI ACWI ex-US (ACWX-US), $76.50 on MSCI EAFE (EFA-US),...
Risk Appetites Improving; Watching Financials, Copper, US Dollar Market dynamics remain largely healthy, and new developments continue to point to improving risk appetites. Still, Energy (XOP, RYE) is the only cyclical value Sector that has been able to decisively break to new price highs, while others remain in congestion. Therefore, our outlook remains neutral yet constructive overall, and we see pullbacks as buying opportunities. Risk Appetites Improving. We continue to see signs of improving...
In this product we rank the most positive and negative domestic stocks, filter the symbols by market-cap and trading volume, and then divide the companies into sectors and groups. We then manually look through charts leadership/changes, bottoms-up/top-down ideas, short-term patterns that may have long-term significance, etc. We believe you will find this product valuable as significant price and relative moves begin in the daily charts.
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