Indicator | Status | Bias |
---|---|---|
Stage Analysis | S&P 500 below MA(30) | Bearish |
Advance-Decline | NYAD Below MA(30), new low last week | Bearish |
Market Momentum | NYAD MA(200) made new low last week, but still above zero | Bearish/ Neutral |
Highs vs Lows | NYHL negative | Bearish |
World Markets | VEU is well below MA(30). Due for a rally, but trend is down. | Bearish |
Market Leader | AAPL is above MA(30) and close to all-time high | Bullish |
Price-to-Dividend | S&P500 dividend yield is below the 1930-2011 average, but higher than most data since 1995. | Bearish/ Neutral |
Contrary Opinion | AAII sentiment survey is neutral (36% bull, 40% bear). | Neutral |
Short-term, it's reasonable to expect a rally on the S&P since the recent lows have held up. I am always on the lookout for stocks showing relative strength so I collected a few in the chart below. These stocks made new highs as the market held its ground. Notice that all of these stocks were pulled down by the initial selloff, but they made higher-highs and higher-lows in the following weeks. Nitrogen fertilizer is acting strong.
- CF (CF Industries | NYSE) - manufactures and distributes nitrogen and phosphate fertilizer
- DLTR (Dollar Tree | NASDAQ) - discount variety stores in the United States and Canada
- TNH (Terra Nitrogen | NYSE) - produces and distributes nitrogen fertilizer
- HANS (Hansen Natural | NASDAQ) - beverages, brand development, e.g, Monster Energy
- MCD (McDonald's Corp. | NYSE) - 32,478 restaurants in 117 countries
The Canadian all-time high list is full of Gold, Gold, and more Gold. With the exception of a few names including:
- NZ (New Zealand Energy | TSXV)
- RMT (Raimount Energy | TSXV)
- SAT (Asian Television Network International | TSXV)
don’t forget to think for yourself...it is your money, no one is going to care about it as much as you do. ...
don’t forget how to be a kind and caring person, it isn’t easy but it can mean so much more than another zero to your net worth - Brian Shannon (AlphaTrends) |
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- Full All-Time High List
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- Van Tharp on Stalking Your Next Trade
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