The market trend picture has reverted back to positive after last week’s market strength. However, the semiconductors sector remains a notable negative, and sentiment indicators remain a potential intermediate-term concern. Overall, it’s a pretty mixed bag.
New positions
No new positions this week.
Watchlists
“Upside strength” candidates of interest this week include Aflac (AFL), Altria Group [...]
Last week’s market weakness is reflected in a now mostly negatively biased trend picture. This, combined with sentiment indicators that had been steadily worsening as the market moved higher, suggests that caution is now warranted.
Key near-term downside support is now at about 1490 for the S&P 500; 855 for the Russell 3000; 2680 and [...]
No surprise that the current weekly trend picture for the major market indices and sectors – with the notable exception of Semiconductors – remains up. While the trend and momentum suggest that the market will continue higher, sentiment indicators are beginning to caution that more and more participants are coming on board.
New positions
Wal-Mart Stores [...]
No change this week in the positive overall market trend picture. Sentiment indicators are worsening – reflecting the increasing bullish sentiment of market participants – but aren’t at extreme levels, suggesting there is still more room on the upside.
New positions
No new positions this week.
Watchlists
There were many “upside strength” candidates this week. A few highlights [...]
