Whoa! Volatility in the stock market. Ups and downs in one day. We are all out of practice dealing with volatile market prices.
This chart sums it up pretty well. It hit a new high in the morning, but by the close all the gains and then some were gone.
Note to self: Pay attention to a negative divergence.
With one indicator headed higher and the other lower, and with the market pushing up to high levels, this chart indicated that there was a problem brewing in the market.
Oil prices are trapped under resistance. Headed lower again? This looks bearish.
Energy shares don't look like they will be helping the overall market trend anytime soon.
If the Semi's start to head lower, the whole market is headed lower with it. The first target is about the 130-level on this chart.
The Leader List
No changes to the list today, if the market volatility continues tomorrow then I would expect some changes.
With Utilities leading the list, Bonds might start to lead soon as well.
This new CTM indicator is pointing to a break out for TLT. Today's market volatility seems to favor bonds, but I am not ready to pull the trigger yet.
The Bond / Stock ratio is looking promising for bonds.
South Korea has pulled back a bit. This index is worth following with all the political tensions.
Outlook
The long-term outlook is positive.
The medium-term trend is up down as of March 21
The short-term trend is down as of March 21
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