Douglas Gammons | TalkMarkets | Page 2
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 Continues Despite Issues
The short-term uptrend looks set to continue. However, despite Friday's very strong session, there are issues with this trend. Even though the major indexes are doing well, market breadth and stock participation are not convincing.
A Nice & New Short-Term Uptrend
We finally got a nice, new short-term uptrend after months in which the short-term cycle was unclear. It was important to deploy cash into stocks quickly because the PMO index has already moved close to the top of its range.
No Room For Optimism
The three major indexes have all been falling below their early October lows, and the SPX and the Dow have been falling below their 200-day averages. There isn't much here for an optimist.
Flipping The Trend
I've been complaining for weeks that the PMO index has been choppy and lacking in direction, which has been preventing me from seeing a short-term market trend. In mid-October, the PMO index flipped that scenario entirely.
Is There A Good Chance That A Rally Has Begun?
Friday's market was strong after a period of selling, so there is a chance that the market has washed out the excessive bullishness and that a rally has begun. I would love to see an uptrend, but I assume that the market will continue to be choppy.
Too Soon For An Uptrend?
The PMO index has turned lower, and there is no doubt that the market has been struggling since Labor Day. Did I declare an uptrend too soon, and is the market about to make a significant move lower?
The Short-Term Downtrend Flipped Up
The market's short-term trend flipped from down to up this past week. It is amazing to me that at the bottom of each of these downtrends, it almost always feels like the market is falling off a cliff. Yet it very rarely actually falls off the cliff.
Soon To See Signs Of The Short-Term Uptrend
With the PMO at its current level, it appears that most stocks have experienced selling pressure and the short-term cycle is playing out as usual. So, within a week or two, we will begin to see the signs of the next short-term uptrend.
Preparing For The Next Short-Term Rally Higher
The short-term downtrend appears set to continue. The market is taking the time it needs to consolidate near its short-term trend lows in order to prepare a base from which it can begin its next short-term rally higher.
Stock Price Trends Are Out Of Sync
The chart of the PMO index has been showing a lot of choppiness since May, and it means that individual stock prices are not moving in the same direction the way they usually do. Individual stock price trends are somewhat out of sync.
The Second Week Of Market Uncertainty
The market trend was certainly an upward one this past week, so it might be surprising to see that I've marked the trend as "uncertain" for the second week in a row. The reason I'm not sure is that this PMO index is so uncharacteristically choppy.
Uncertain On How To Define The Short-Term Market Trend
The market has been choppy and difficult to read lately, so I am uncertain on how to define the short-term trend. However, based on the PMO index, which is pointing decisively lower, the majority of stocks have lost their short-term upside momentum.
The Short-Term Uptrend Continues As Things Get Interesting
The short-term market uptrend looks set to continue. I have been traveling and have not been watching the market anywhere near as much as I usually do. But now I'm refocusing on stocks, and things are getting interesting again.
Friday May Have Started A New Short-Term Uptrend
Friday's strong session broke the market out of its confusion, and it appears to have started a new short-term uptrend. Both of the bullish percents of the major exchanges are now pointing higher in a decisive fashion.
Uncertainty In An Uncertain Market
I don't know how to label the short-term trend at the moment. Certainly, technology stocks are trending higher, but I don't see an uptrend or downtrend for the rest of the market.
The Short-Term Downtrend Continues Despite The Nasdaq Rallying
The short-term downtrend looks set to continue, although the market has seen a few attempted rallies and the Nasdaq index has been showing strength. However, even though the Nasdaq index is rallying, the majority of stocks have still been weak.
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