“Trade what you see; not what you think.” – The Old Fool,
Richard McCranie, trader extraordinaire.
“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.
ANTI ISRAEL PROTESTORS WANT TO DESTROY WESTERN
CIVILIZATION (The Telegraph)
“The people intent on ruining the likes of the Macy’s parade on behalf of “Palestine” would presumably call themselves progressive. But all they are progressing is the strength and confident evil of theocratic dictatorships which, by their own explicit ideological framework, would want most of their useful idiots in the West, especially women and gay people, silenced or killed.” – Opinion by Zoe Strimpel, The Telegraph.
Anti-Israel protesters don’t want to save ‘Palestine’. They want to destroy Western civilisation
MARKET REPORT / ANALYSIS
-Friday the S&P 500 rose about 0.6% to 6032.
-VIX declined about 4% to 13.51.
-The yield on the 10-year Treasury declined (compared to about this time, prior trading day) to 4.178%.
MY TRADING POSITIONS:
XLK – Holding since the October 2022 lows. Added more 9/20.
SSO – added 10/16.
SPY – added 9/19 & more 10/16
QLD – added 11/5.
UWM – added 11/11
CURRENT SUMMARY OF APPROXIMATELY 50 INDICATORS:
Today, of the 50-Indicators I track, 4 gave Bear-signs and 19 were Bullish. The rest are neutral. (It is normal to have a lot of neutral indicators since many of the indicators are top or bottom indicators that will signal only at extremes.)
The daily Bull/Bear, 50-Indicator spread (Bull Indicators minus Bear Indicators, red curve in the chart above) improved to +15 (15 more Bull indicators than Bear indicators).
TODAY’S COMMENT
As you might suspect, volumes were very low today due to the Holiday and shortened trading. We won’t place much weight on today’s action, but it was more of the same, up, so we can’t complain.
Today’s Bull-Bear spread of +17, a still a very bullish
sign with little change from Wednesday.
The 10-dMA of the 50-Indicator Spread (purple line in the
chart above) is moving higher today so the overall 50-Indicator spread signal
is Bullish. (I follow the 10-dMA for trading buy-signals and as an indicator
for sell signals.)
The S&P 500 made a new all-time high Friday. About 7% of issues on the NYSE made new,
52-week highs today. That demonstrates a broad advance. It’s another
confirmation that markets look good and can continue higher. If a pullback were
to occur now on the S&P 500 (and ‘m not predicting one) it is likely that
it would be in the range of 3-5%. That would be a normal pullback to around the
50-dMA.
BOTTOM LINE
I’m bullish.
ETF - MOMENTUM ANALYSIS:
TODAY’S RANKING OF 15 ETFs (Ranked Daily) ETF ranking follows:
T
*For additional background on the ETF ranking system see NTSM Page at…
http://navigatethestockmarket.blogspot.com/p/exchange-traded-funds-etf-ranking.html
DOW STOCKS - TODAY’S MOMENTUM RANKING
OF THE DOW 30 STOCKS (Ranked Daily)
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
FRIDAY MARKET INTERNALS
(NYSE DATA)
My basket of Market Internals remained BUY. (My basket of Market Internals
is a decent trend-following analysis that is most useful when it diverges from
the Index.)
...My current invested
position is about 70% stocks, including stock mutual funds and ETFs. I’m
usually about 50% invested in stocks when markets are stretched. (75% is my max
stock allocation when I am confident that markets will continue higher.)
I trade about 15-20% of the total portfolio using the
momentum-based analysis I provide here. When I see bullish signs, I add a lot more
stocks to the portfolio, usually by using an S&P 500 ETF as I did back in
October 2022 and 2023.
“The people intent on ruining the likes of the Macy’s parade on behalf of “Palestine” would presumably call themselves progressive. But all they are progressing is the strength and confident evil of theocratic dictatorships which, by their own explicit ideological framework, would want most of their useful idiots in the West, especially women and gay people, silenced or killed.” – Opinion by Zoe Strimpel, The Telegraph.
Anti-Israel protesters don’t want to save ‘Palestine’. They want to destroy Western civilisation
-Friday the S&P 500 rose about 0.6% to 6032.
-VIX declined about 4% to 13.51.
-The yield on the 10-year Treasury declined (compared to about this time, prior trading day) to 4.178%.
XLK – Holding since the October 2022 lows. Added more 9/20.
SSO – added 10/16.
SPY – added 9/19 & more 10/16
QLD – added 11/5.
UWM – added 11/11
Today, of the 50-Indicators I track, 4 gave Bear-signs and 19 were Bullish. The rest are neutral. (It is normal to have a lot of neutral indicators since many of the indicators are top or bottom indicators that will signal only at extremes.)
The daily Bull/Bear, 50-Indicator spread (Bull Indicators minus Bear Indicators, red curve in the chart above) improved to +15 (15 more Bull indicators than Bear indicators).
As you might suspect, volumes were very low today due to the Holiday and shortened trading. We won’t place much weight on today’s action, but it was more of the same, up, so we can’t complain.
I’m bullish.
TODAY’S RANKING OF 15 ETFs (Ranked Daily) ETF ranking follows:
T
*For additional background on the ETF ranking system see NTSM Page at…
http://navigatethestockmarket.blogspot.com/p/exchange-traded-funds-etf-ranking.html
For more details, see NTSM Page at…
https://navigatethestockmarket.blogspot.com/p/a-system-for-trading-dow-30-stocks-my_8.html
