NAVIGATE THE STOCK MARKET FOCUSES ON:
(1) Daily momentum analysis of the DOW 30 stocks and 15 ETFs across various market sectors.
(2) Stock Market commentary and analysis.
(3) Buy/Sell signals for major market turns.
(((The blog is for information only. You assume all risk of its use; we don’t warrant the accuracy of our content. You must do your own due diligence.)))
“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. MARKET REPORT / ANALYSIS -Tuesday the S&P 500 rose about 0.1% to 6050. -VIX declined about 0.3% to 13.30. -The yield on the 10-year Treasury rose (compared to
about this time, prior trading day) to 4.226%. 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, 8 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.)
The daily Bull/Bear, 50-Indicator spread (Bull Indicators
minus Bear Indicators, red curve in the chart above) remained to +8 (8 more Bull
indicators than Bear indicators – yesterday’s numbers changed due to
late data). TODAY’S COMMENT Not much different than yesterday: Today’s Bull-Bear spread of +8, is still a bullish sign,
especially since the 10-dMA of the 50-Indicator Spread (purple line in the
chart above) is moving higher today. 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 Tuesday as it
did Monday.4.5% of issues on the NYSE
made new, 52-week highs today. That demonstrates a decent 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. There was a new Bear sign today... 8 of the last 10 trading days have been up-days.That should bring us a down day tomorrow, but
by itself, it does not suggest a pullback. BOTTOM LINE I’m bullish. ETF - MOMENTUM ANALYSIS: 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 DOW STOCKS - TODAY’S MOMENTUM RANKING
OF THE DOW 30 STOCKS (Ranked Daily)
My basket of Market Internals remained HOLD. (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.
