Douglas Gammons | TalkMarkets | Page 1
Retired
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Retired software engineer turned writer/investor and owner of HeadlineCharts. I am not a registered investment advisor. My comments reflect my view of the market, and what I am doing with my accounts. The analysis is not a recommendation to buy, ...more

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The Short-Term Uptrend Has Continued
The short-term uptrend has continued. The PMO index has risen nicely off its lows, showing that most stocks have transitioned to momentum buys over the last 7 or 8 trading sessions.
Short-Term Uptrend Began In A Choppy Market
It looks like a short-term uptrend began this week, and this means that I will be deploying some of my available cash and adding to positions cautiously. I say cautiously because it has been such a choppy market so far this year.
Watching For The Next Short-Term Uptrend
The market has continued to be choppy and confusing, but with the PMO index at the bottom of its range, we need to be watching for signs of the next short-term uptrend.
A Rough Week In The Stock Market
What in the world is going on with the stock market? This was certainly a rough week for traders. First, there was strength on Tuesday, then weakness on Wednesday, followed by strength on Thursday, and finally weakness on Friday.
Stocks Experiencing A Short-Term Pullback
The PMO appears to be near the bottom of its range, and the momentum indicator of the advance/decline line has turned lower. This would indicate that most stocks are experiencing a short-term pullback in price.
Selling Pressure In The Uptrend
The strong uptrend that started in late October has been displaying a bit of selling pressure lately. The NDX closed under the 20-day EMA on Friday, and it could be rolling over. In fact, the NDX hasn't had a closing high in a couple weeks.
A Surprising Uptrend
Have you ever seen such a beautiful uptrend? Since the late October low, the market has moved higher. And yet, since mid-January, I have been saying that I couldn't discern the direction of the short-term trend.
The Short-Term Trend Is Uncertain, But Stocks Are Showing Momentum
I'm still not certain about the short-term trend in the markets, but I can see that most stocks are now showing bullish, upward momentum. Although the PMO index has been choppy over the last four weeks, it is now definitely trending upwards.
Leading Stocks Are In A Short-Term Uptrend
The market-leading stocks have continued to push indexes higher, while the majority of stocks continued their consolidation of the gains from November and December. The leading stocks are in a short-term uptrend, but the majority of stocks are not.
Stocks Are Still Correcting And Consolidating
Most stocks appear to be correcting and consolidating the big gains of the final two months of 2023. The true market leaders, however, finished correcting in mid-January and have been moving higher since then.
Stocks Are Still In Correction Mode
The short-term downtrend looks set to continue -- that is, unless you own tech stocks, specifically semiconductors. Friday was an incredible day in the market, but the majority of stocks are still in correction mode.
The Market Continues Its Short-Term Downtrend
The market continues to be in a short-term downtrend. If you own only large-cap stocks, you may not be feeling the impact of this part of the short-term cycle. But if you own small-caps, you are likely aware that stock prices have been pulling back.
A New Short-Term Downtrend Started In January
Can you believe it? A new short-term downtrend started on Jan. 2. The sell signal was confirmed by most of the indicators that I follow. The new short-term down cycle occurred just as the SPX rallied up to the previous price high established in 2021.
The Short-Term Uptrend May Be On Its Last Legs
Believe it or not, the short-term uptrend looks set to continue, but it does appear to be on its last legs. It's time to prepare for a pullback in prices by having cash to deploy back into stocks when the PMO index reaches the bottom of its range.
An Incredible Short-Term Rally
The NYSE new 52-week lows continue to behave very well at harmless levels, but the Nasdaq new lows are elevated indicating that there is still some concern about this market.
The Short-Term Uptrend Is Ready To Rally
The short-term uptrend appears set to continue, and it looks ready to rally into year-end. After such a rally, it may be very difficult for bears and latecomers to know what to do next.
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