Douglas Gammons Blog | Talkmarkets | Page 1
Retired
Contributor's Links: HeadlineCharts

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 ... more

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Looking For Short-Term Downtrend
The short-term uptrend continues, but it is time to be looking for the next short-term downtrend.
Laggard Stocks Now Leading
The big news of the past week was the sudden and startling outperformance of laggard stocks along with the sharp drop in the price of the leading stocks. When I say startling I really mean startling.
New Short-Term Uptrend Started
A new short-term uptrend started on Sept.4. The medium-term trend also looks like it has turned higher, although it is too early to know for sure. For now, the market, or at least the big institutional stocks, appear to be heading upwards.
Promising Short-Term Trend Falls Apart
A new short-term uptrend looked so promising on Thursday, but then on Friday, it fell apart. Bad news, a President's sensitive ego and the weak seasonal period all came together to undermine stocks.
Short-Term Uptrend Ahead?
There was endless discussion of the yield curve this week. To those skeptical of the yield curve, I will point out that industrial production has turned lower, and that this is also a good signal of trouble brewing for the economy and stocks.
Short-Term Trend Intensifies
The short-term downtrend intensified on Monday which is a signal for me to start looking for signs of the next short-term uptrend. It is counter-intuitive to think that intense selling leads to buying, but I find that is often how it works.
Market Showing Weakness
The general market started to show weakness two weeks ago according to this PMO Index, but it took about seven days for the weakness to develop into a real downtrend.
Majority Of Stocks Are Correcting
We are supposed to be in a downtrend (or a consolidation) as of a week ago Friday, but the recent market strength makes the weakness late last week look like just a dip.
New Short-Term Downtrend Ahead?
It looks like Friday was the start of a new short-term downtrend. Thursday revealed weak market breadth, but on Friday breadth was a lot better until the news from the Strait of Hormuz.
Choppy Behavior, Wobbly Market
Last week I thought that the Call/Put ratio was starting to signal that the next short-term downtrend was starting, but it turned back up this week along with the market. Still, this choppy behavior is probably a sign the market is a bit wobbly.
Market Showed Strength
With the market showing so much strength on Friday it is tempting to jump in, but this strategy of lightening up at the top of the PMO range, and re-deploying at the bottom of the PMO range works really well over the long-term for me.
On Watch For Short-Term Downtrend
We are now on watch for the next short-term downturn. The PMO Index is at the maximum of its range and has been there for a number of days, so we need to look for the signs of market weakness.
New Short-Term Uptrend: Strong In Price, Weak In Volume
We finally got a new short-term uptrend after a very lengthy short-term downtrend. You might say that the uptrend actually started on Tuesday.
Entering Week 8 Of Short-Term Downtrend
We are now entering week eight of the short-term downtrend and the trend is just grinding lower and lower with few signs that it is ready to rally. In addition, and this is very important, there are way too many new 52-weeks lows every day.
Short-Term Trend Is Down
Although there are plenty of short-term oversold conditions, the market is not showing signs that it is ready to rally. So far, 2019 has given new life to the sell in May strategy.
The Short-Term Trend Is Weak
The market is having trouble pulling it together to launch a short-term rally. The bullish percents were showing signs on Thursday that a rally might be taking shape, but then on Friday struggled.
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