“Far more money has been lost by investors in preparing for corrections, or anticipating corrections, than has been lost in the corrections themselves.” - Peter Lynch, former manager of Fidelity’s Magellan® fund.
“A high-ranking official with the New York Police Department said protesters had weapons including knives and hammers as well as pamphlets with ‘Death to America!’ written on them. Michael Kemper, a NYPD's chief of transit, posted photos Friday of what police confiscated from the protesters. “For those romanticizing the protests occurring on college campuses, ‘Death to America!’ is one sentiment that runs counter to what we believe in, what we stand for, and what many have fought for on behalf of this country,’ Kemper stated on X. ‘And if you think the words written on this piece of paper are disturbing … you should hear the vile, disgusting, hateful, & threatening words coming out of the mouths of far too many of these so called ‘peaceful protestors.’”
NYPD says protesters had weapons, gas masks and ‘Death to America!’ pamphlets (msn.com)
Hamas attack on aid crossing that killed Israeli troops (msn.com)
“I have criticized the president’s treatment of Israel since the early days after Oct. 7, when most Israelis were singing his praises. But Mr. Biden’s greatest error in this war lies elsewhere, in his betrayal of Gazan civilians and cruel disregard for their humanity. This set in motion a cascade of problems that have bedeviled the war ever since. When you hear that Gazans are “trapped,” you are encountering a Biden policy choice. It didn’t have to be this way. Gaza’s Rafah borders Egypt, a U.S. ally that relies on $1.3 billion in U.S. aid a year. In contravention of international law, Egypt has sealed its border to Gazan refugees next door. Mr. Biden hasn’t lifted a finger to stop it.” - Elliot Kaufman, WSJ Letters Editor.
https://www.wsj.com/articles/bidens-worst-mistake-of-the-gaza-war-901efb25?mod=hp_trending_now_opn_pos2
“Rafah hosts Hamas’s leaders, four terrorist battalions, hostages and border crossing with Egypt, from which it controls incoming aid and smuggles in military supplies. It is the crucial city for the terrorist group’s future.” – WSJ Editorial Board.
https://www.wsj.com/articles/rafah-battle-israel-hamas-gaza-cc8ba76b?mod=WTRN_pos2&cx_testId=3&cx_testVariant=cx_171&cx_artPos=1
https://investfortomorrow.com/blog/goldilocks-is-in-the-house-and-the-banks-are-loving-it/
-Tuesday the S&P 500 rose about 0.1% to 5188.
-VIX declined about 2% to 13.23.
-The yield on the 10-year Treasury declined to 4.459%.
UWM – Added 5/2/2024
QLD – Added 4/29/2024
SSO – Added 4/29/2024.
XLE – Added 4/24/2024
CRM – Added 1/22/2024.
“The Dow Jones U.S. Completion Total Stock Market Index, also known as the DWCPF, is a widely used financial index that provides a comprehensive measure of the US equity market. The DWCPF includes all US stocks that are not included in the Dow Jones US Total Stock Market Index, which comprises large-cap and mid-cap companies. As a result, the DWCPF provides a complete picture of the US stock market, including small-cap and micro-cap companies, which are often overlooked by other indexes.” From...
https://fi.money/blog/posts/what-is-dow-jones-u-s-completion-total-stock-market-index-dwcpf
The Bull/Bear Spread (Bull Indicators minus Bear Indicators) moved more solidly into Bull territory today, and is now 5 Bear-signs and 17-Bull. The 10-dMA was higher too.. (The rest are neutral. It is normal to have a lot of neutral indicators since many of those are top or bottom indicators that will signal only at extremes.) The 10-dMA of spread (purple in the chart below) continues to improve and, as noted, the spread is well to the bull side. All is well.
I thought I’d review my recent trades. I sold leveraged trading positions on 8 April because the S&P 500 was at its upper trend line; it was >12% above its 200-dMA; and the 10-day spread of the 50-ensemble indicator was falling. I Bought leveraged positions back on 29 April when the 50-day ensemble improved. The S&P 500 gained 2% relative to buy-and-hold. While there was a small gain, it wasn’t a home run. The total drop top to bottom was 5.5%. By trading the 50-day Indicator Spread ensemble, I caught less than half of the move. On the good side, using leveraged positions my theoretical gain was closer to 4% better than a buy-and-hold strategy. More importantly, my leveraged trading positions were out of the market during weakness. That was a good place to be especially since the market could have declined much farther than 5%, although I thought the decline would be less than 10% based on other indicators.
(The Long-Term Indicator is not a good top-indicator. It can signal BUY at a top.)
I am bullish. The S&P 500 is headed back to all-time, new highs.
TODAY’S RANKING OF 15 ETFs (Ranked Daily) ETF ranking follows:
*For additional background on the ETF ranking system see NTSM Page at…
http://navigatethestockmarket.blogspot.com/p/exchange-traded-funds-etf-ranking.html
I forgot to update this chart yesterday, but below is Friday’s chart. DOW 30 momentum ranking follows:
The top ranked Stock receives 100%. The rest are then ranked based on their momentum relative to the leading Stock.
For more details, see NTSM Page at…
https://navigatethestockmarket.blogspot.com/p/a-system-for-trading-dow-30-stocks-my_8.html
My basket of Market Internals declined to HOLD. (My basket of Market Internals is a decent trend-following analysis of current market action, but should not be used alone for short term trading. They are most useful when they diverge from the Index.)
