Tag: Confirmed Uptrend

Market View

Posted on by Raj Gupta

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq remain constructive near all-time
highs despite being extended above their 21-DMA ( S&P 500: 3,169; Nasdaq: 8,752 ) and 50-DMA (S&P 500:
3,110; Nasdaq: 8,540). Distribution stands at three days on both indices.
All 11 sectors, 178 of 197 industry groups, and 81% of S&P 500 stocks are trading above their respective 50-
DMA. Commodities are under accumulation as Gold ( GLV ), Silver ( SLV ), and Oil ( USO ) each rose more than
+2% this week and outperformed all sectors. Leading groups over the past week include Mining (

), Oil &
Gas ( WPX ), Retail-Internet ( AMZN ), Auto Manufacturers ( TSLA ), Data Storage ( MU ), and Electronic Products
( OLED ).

US Focus

Posted on by Midhun Parameswaran

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq remains constructive near all-time highs despite being extended above its 21-DMA (S&P 500: 3,169; Nasdaq: 8,753) and 50DMA (S&P 500: 3,110; Nasdaq: 8,541). Distribution stands at three days on both indices.

China A Shares

Posted on by Sandeeep N

The CSI 300 rose 1.24% this week on higher volume and remains in a Confirmed Uptrend with three distribution days. The finalization of terms of a phase one China-U.S. trade deal significantly boosted market sentiment. China’s stronger-than-expected November economic data signaled that government’s policies seem to be taking effect, improving investors’ risk appetite. The CSI 300 was trading constructively after decisively breaking above the previous November’s high and is testing the next resistance at April’s high (~4,100). We are hopeful the index holds above support at ~3,925. Due to heavy selling pressure approaching April’s high, we expect the index to consolidate around ~4,020 in the near term. Investors need to remain disciplined and avoid extended ideas as volatility increases near the area of intense pressure. The Technology and Capital Equipment sectors were leading while Health Care stocks have been lagging our Focus List for a month. Health Care remains weak and we advise investors to trim positions. We recommend accumulating positions in stocks with decisive breakouts from solid bases or key support levels. Profits earned by China’s major industrial firms in November, another important economic indicator, are expected to be released next Friday.

US Focus

Posted on by Sandeeep N

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq are trending into higher highs above all moving averages. Near-term support is at the 10-DMA (S&P 500: 3,181; Nasdaq: 8,785), followed by the 21-DMA (S&P 500: 3,153; Nasdaq: 8,689). Distribution remains at four days on both indices.

Market View

Posted on by Raj Gupta

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq are trending into higher highs
above all moving averages. Near-term support is at the 10-DMA ( S&P 500: 3,181; Nasdaq: 8,786 ), followed by
the 21-DMA ( S&P 500: 3,153; Nasdaq: 8,690 ). Distribution remains at four days on both indices.
All 11 sectors, 179 of 197 industry groups, and 81% of S&P 500 stocks are trading above their respective 50-
DMA. Health Care, Consumer Cyclical, and Technology are each trading 5% or more above that level. Leading
industry groups over the last week include Auto Manufacturers ( TSLA ), Oil & Gas ( GPRK ), Data Storage ( MU ),
Semiconductors ( NVDA ), Lodging ( H ), Managed Care ( CI ), and Utilities ( NEE ).

US Focus

Posted on by Midhun Parameswaran

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq made new alltime highs this week, continuing to trend higher above all major moving averages. Distribution stands at four days each with no expiration for two weeks.

European Focus

Posted on by Midhun Parameswaran

On Thursday, the Stoxx 600 ended the day 0.06% above last Friday’s close and remained in a Confirmed Uptrend. During the week, we downgraded the U.K. to an Uptrend Under Pressure. Of the 17 indices we cover, seven are in a Confirmed Uptrend, six are in an Uptrend Under Pressure, and four in a Rally attempt.