jump to navigation

Noth’in New February 24, 2017

Posted by Tom in Thoughts.
Tags: , ,
trackback

Feb. 24, 2017 – This is sounding like a broken record because most markets worldwide continue their upward pace.  I do note a slight change, in that some defensive sector are showing some strength.  Notably, Utilities, Tobacco, Aerospace-Defense and REITs.  (See the table below.)

nasdaq

The NASDAQ Index remains within it’s price channel (purple lines) and I’ve moved my “Wyckoff Support” level up to 5748; which is derived from the Low of a weekly significant bar.  Sentiment, Volume & Money Flow indicators remain “Bullish”.  Volume did drop off late this week, so we’ll be watching for signs of an Up Thrust on low volume . . . a warning sign.

Here’s my sector strength watch list:

sectors

The overall strength also shows itself in the broad S&P 1500 stocks:

% of stocks, Price Strength –

price-strength

% stocks in Accumulation & Distribution –

a-d

There’s a fair amount of green up there and expectations are high for tax cuts, government spending (infrastructure & defense) and lower regulation.  If the markets get concerned that they are not going to happen, that could mean trouble; but not yet.

Have a good week.      …………  Tom  …………

Chart by MetaStock; table and pie charts by http://www.HighGrowthStock.com; used with permission.

Comments»

No comments yet — be the first.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: