https://michaelpramirez.com/index.html
“U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 2 million barrels from the previous week. At 438.4 million barrels, U.S. crude oil inventories are about 7% below the five year average for this time of year.” Report at...
https://ir.eia.gov/wpsr/wpsrsummary.pdf
“Retail prices for regular grade gasoline in California are consistently higher than in any other state in the continental United States, often exceeding the national average by more than a dollar per gallon. Several factors contribute to this high price, including state taxes and fees, environmental requirements, special fuel requirements, and isolated petroleum markets.
The components of retail gasoline prices are taxes and fees, distribution and marketing, refining costs, and crude oil prices. Drivers in California pay the highest taxes at the pump, equivalent to $0.90 per gallon (gal) between local, state, and federal taxes as of March 2025.
Federal taxes—which are the same for each state—account for $0.18 of the $0.90/gal in taxes. The other $0.72/gal is made up of state excise tax ($0.60/gal), state sales tax ($0.10/gal), and an underground storage tank fee ($0.02/gal). California’s state gasoline excise tax is the highest in the United States; the average across all states is $0.28/gal.” Report at...
https://www.eia.gov/todayinenergy/detail.php?id=65184
“The key to everything is getting the VIX to fall significantly which it has. VIX below 30 makes things easier. VIX below 20 makes things on the easy side. Stocks are set to pullback this morning. After 9 straight up days, no one should be shocked. For now, I think weakness is buying opportunity, but I will also watch how strong the decline is.” – Paul Schatz, President Heritage Capital. Commentary at...
https://investfortomorrow.com/blog/bears-still-hate-and-disavow/
“The price low on April 8, 2025 was unusual because it coincided with the highest reading for stocks making a new 52-week low on the NYSE. Usually the number of New Lows peaks before the final price low.
One point that is important to understand about the data for New Highs and New Lows is that the calculations employ intraday extremes. And so even though the SP500 closed higher on April 9, it only did so after making a lower intraday low, which helped a lot of stocks push down to their own new 52-week lows. But this is still a coincident event compared to other important stock market lows over the past 5 years shown in this chart. Usually the highest reading for NYSE New Lows occurs several days ahead of the final price low. So that is a missing component thus far for this current price decline. It casts some doubt on the presumption that ‘the bottom is in’.” – Tom McClellan, Editor McClellan Market Report. Commentary at...
https://www.mcoscillator.com/learning_center/weekly_chart/new_lows_spike_was_unusual_this_time/
“The Federal Reserve kept interest rates at the target range of 4.25% to 4.5% at the conclusion of its May meeting. The policy-setting Federal Open Market Committee noted that “the risks of higher unemployment and higher inflation have risen.” Story at...
https://www.cnbc.com/2025/05/07/fed-meeting-live-updates-traders-await-insight-from-powell-on-next-rate-cut-tariff-impact.html
-Wednesday the S&P 500 rose about 0.4% to 5631.
-VIX declined about 5% to 23.55.
-The yield on the 10-year Treasury declined to 4.269% (compared to about this time prior market day).
XLK-added 4/28
SPY-added 4/28
Today, of the 50-Indicators I track, 4 gave Bear-signs and 16 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.)
TODAY’S COMMENT
The daily, bull-bear spread of 50-indicators improved to +12 (12 more Bull indicators than Bear indicators) a Bullish indication (I consider 5 neutral) - the 10-dMA of the spread continued higher – also a bullish sign.
I am bullish, though perhaps warily. The markets may trade sideways for a while or drift down some to work off the bullish froth.
TODAY’S RANKING OF 15 ETFs (Ranked Daily) ETF ranking follows:
The top ranked ETF receives 100%. The rest are then ranked based on their momentum relative to the leading ETF.
*For additional background on the ETF ranking system see NTSM Page at…
http://navigatethestockmarket.blogspot.com/p/exchange-traded-funds-etf-ranking.html
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
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.
