Jobless Claims ... Momentum Trading DOW Stocks & ETFs … Stock Market Analysis ...

 
 
JOBLESS CLAIMS (CNBC)
“Initial unemployment claims posted an unexpected increase last week in a potential trouble sign for the wobbling U.S. economy. First-time filings for unemployment insurance totaled a seasonally adjusted 241,000 for the week ended April 26, up 18,000 from the prior period and higher than the Dow Jones estimate for 225,000...” Story at...
https://www.cnbc.com/2025/05/01/weekly-jobless-claims-surge-to-241000.html
 
MARKET REPORT / ANALYSIS
-Thursday the S&P 500 rose about 0.6% to 5604.
-VIX slipped about 0.4% to 24.6.
-The yield on the 10-year Treasury rose to 4.212% (compared to about this time prior market day).
 
MY TRADING POSITIONS:
XLK-added 4/28
SPY-added 4/28
 
CURRENT SUMMARY OF APPROXIMATELY 50 INDICATORS:
Today, of the 50-Indicators I track, 6 gave Bear-signs and 17 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 +11 (11 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.  Indicators continue to improve and are now clearly to the bull side.
 
Thursday, unchanged volume was very high. As I’ve often said, many believe that this indicator suggests investor confusion at market turning points. Are markets turning back down? That could always happen but the indicators don’t suggest it now. Perhaps, the best we can say is that investors are confused. “High-unchanged-volume” is not one of my indicators because it is often wrong.
 
One can always worry that this bounce is just that – a bounce in a bear-market decline.  So far, the indicators have been extreme enough to suggest that the bottom was 4983 on 8 April. (Long-Term indicator BUY- signal; Zweig Breadth Thrust; 90% up-volume day; the S&P 500 broke above its upper trendline.) However, we should recognize there is a possibility of further declines. If indicators reverse, I may take profits and get conservative again. So far, all-is-well.
 
I will be busy for the rest of the week – I’ll still post, but perhaps with shorter posts and published later I the day.

I haven't got a clue what is wrong with the alignment but I don't have time to troubleshoot...

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BOTTOM LINE
I am bullish, though perhaps warily. I added XLK and SPY Monday.