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Market Treading Water March 2, 2019

Posted by Tom in Thoughts.
Tags: , ,

Mar. 1, 2019 – Before I begin, I’d like to note that the date at the beginning of all of my posts refers to the last data date when the text was complied and the data shown in all charts and tables.  This blog is typically updated over the weekend and the date is usually the Friday before (unless there is a holiday).

A quick look at the chart below shows that the market (NASDAQ Composite Index) basically did very little over the past week.  The Money Flow indicator has turned down but all of the other indicators remain positive / bullish.  This 7486 price area was the last time significant “buying” came into the market on a weekly basis; thus a possible resistance point.

Overall the market needs a rest so a pause is not unexpected and actually overdue.  Looking at the stocks in the broad S&P 1500 Index below we see a fair amount of green in both the Price Strength and Accumulation / Distribution pie charts.  (These charts tend to be more intermediate term as far as the time span is concerned.)  All positive for the time being.

Price Strength: % of stocks-

Accumulation/Distribution: % of stocks-
Sector Strength in the short term –

Note that there appears to be some sector rotation into Pharma and Biotech sectors; Tech, Industrials and Semiconductor stocks continue to do well.

That about it for this lack luster week.  I remain mostly invested and trying to go with the prevailing strengths that I see.  Have a good week.  …  Tom  …

Price chart by MetaStock; pie chart & table by http://www.HighGrowthStock.com. Used with permission.


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