Sand 2 Pirls Market Commentary a weekly technical stock market overview featuring our custom Bull/Bear P&F ratio

January 29, 2012

1-27-12 Market Commentary

Filed under: Market Commentary — dlpirl @ 5:04 pm

Subscriber email sent 1-29-12:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio rose from 2.06 to 2.46, advancing further into bullish territory. The total count of securities in bullish or bearish patterns increased 2% to 2125. The count of bearish stocks decreased 10%, while the count of stocks in bullish patterns increased by 7%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market advancing into bullish territory. Paid subscribers have access to the Excel data from which the image to the left is built.

The well known market breadth indicator, the Nasdaq McClellan Summation Index (NASI) increased for the sixth time in the last six weeks, gaining 231 points. At +334, it is now approaching NASI tops over the past two years.
In this week’s volume analysis the Russell 2000 ended in Accumulation mode. In the last two weeks it had six (6) Accumulation days and one (1) Distribution day. Of the other indexes, the S&P 500 Deposit Receipts ended the week in neither Accumulation nor Distribution mode while the Diamonds Trust ended in Distribution mode. (Accumulation days are counted when the index closes up on higher volume than the prior day while Distribution days occur when the index closes down on volume higher than the prior market day.)  Last week the Russell 2000 also ended the week in Accumulation mode.
Momentum: We continue to wait for the CCI(20) to drop back into the +/-50 range for a valid Zero Line Reject (ZLR) entry point.
In Woodie’s CCI trading system, six consecutive bars above or below zero are required for a change of trend. The weekly CCI(20) of the Nasdaq Composite Index began an up trend nine weeks ago. The Daily CCI(20) began a Woodie’s up trend seven weeks ago.
We continue to wait for the CCI(20) to drop back to the +/-50 range for a valid ZLR (Zero Line Reject) entry signal.
Industry Rotation the last two weeks: All of the top five industries are positive and all of the bottom five are negative. Bullish: Semis (SOX) remains in the top five. Computer Hardware (HWI) has entered the top five.  Bearish: Networkers (NWX) and Brokers (XBD) have left the top five. Banks (BKX) have entered the bottom five. Gold & Silver (XAU) have left the bottom five.  

–Donald Pirl www.s2pmarketsignal.com


S2P Market Signal Commentary may be freely forwarded and otherwise distributed providing content is unchanged and authorship acknowledged.
© 2012 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

January 21, 2012

1-20-12 Market Commentary

Filed under: Market Commentary — dlpirl @ 2:08 pm

Subscriber email sent 1-21-12:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio rose from 1.63 to 2.06, advancing further into bullish territory. The total count of securities in bullish or bearish patterns increased 9% to 2090. The count of bearish stocks decreased 6%, while the count of stocks in bullish patterns increased by 18%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market advancing into bullish territory. Paid subscribers have access to the Excel data from which the image to the left is built.

The well known market breadth indicator, the Nasdaq McClellan Summation Index (NASI) increased for the fifth time in the last five weeks, gaining 195 points. At +104, it continues above the November 2009 bottom, the February 2010 bottom, the June 2010 bottom, and the August 2011 bottom.
In this week’s volume analysis the Russell 2000 ended in Accumulation mode. In the last two weeks it had five (5) Accumulation days and one (1) Distribution day. Of the other indexes, the S&P 500 Deposit Receipts ended the week in Accumulation mode while the Diamonds Trust ended in neither Accumulation nor Distribution mode. (Accumulation days are counted when the index closes up on higher volume than the prior day while Distribution days occur when the index closes down on volume higher than the prior market day.)  Last week the Russell 2000 ended the week in Distribution mode.
Momentum: We continue to wait for the CCI(20) to drop back into the +/-50 range for a valid Zero Line Reject (ZLR) entry point.
In Woodie’s CCI trading system, six consecutive bars above or below zero are required for a change of trend. The weekly CCI(20) of the Nasdaq Composite Index began an up trend eight weeks ago. The Daily CCI(20) began a Woodie’s up trend six weeks ago.
We continue to wait for the CCI(20) to drop back to the +/-50 range for a valid ZLR (Zero Line Reject) entry signal.
Industry Rotation the last two weeks: All of the top five industries are positive and four of the bottom five are negative. Bullish: Networkers (NWX) and Brokers (XBD) remain in the top five. Semis (SOX) has entered the top five. Gold & Silver (XAU) have left the top five and entered the bottom five.  Bearish: Banks (BKX) have left the top five.  

–Donald Pirl www.s2pmarketsignal.com


S2P Market Signal Commentary may be freely forwarded and otherwise distributed providing content is unchanged and authorship acknowledged.
© 2012 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

January 15, 2012

1-13-12 Market Commentary

Filed under: Market Commentary — dlpirl @ 8:48 am

Subscriber email sent 1-15-12:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio rose from 1.22 to 1.63, advancing further into bullish territory. The total count of securities in bullish or bearish patterns increased 7% to 1917. The count of bearish stocks decreased 9%, while the count of stocks in bullish patterns increased by 20%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market moving into bullish territory. Paid subscribers have access to the Excel data from which the image to the left is built.

The well known market breadth indicator, the Nasdaq McClellan Summation Index (NASI) increased for the fourth time in the last four weeks, gaining 217 points. At -91, it continues above the November 2009 bottom, the February 2010 bottom, the June 2010 bottom, and the August 2011 bottom.
In this week’s volume analysis the Russell 2000 ended in Distribution mode. In the last two weeks it had four (4) Accumulation days and three (3) Distribution days. Of the other indexes, both the S&P 500 Deposit Receipts and the Diamonds Trust ended the week in Distribution mode. (Accumulation days are counted when the index closes up on higher volume than the prior day while Distribution days occur when the index closes down on volume higher than the prior market day.)  Last week the Russell 2000 ended the week in Accumulation mode.
Momentum: At Friday 12/30 close, the CCI(20) rose, but at a weaker angle up than the previous angle down. The CCI(20) then rose sharply on Tuesday, but we had previously rejected the trade. We continue to wait for the CCI(20) to drop back into the +/-50 range for a valid Zero Line Reject (ZLR) entry point.
In Woodie’s CCI trading system, six consecutive bars above or below zero are required for a change of trend. The weekly CCI(20) of the Nasdaq Composite Index began an up trend seven weeks ago. The Daily CCI(20) began a Woodie’s up trend five weeks ago.
Three weeks ago, the CCI(20) rose forming a pivot within the +/-50 range, but the outward angle (up) was less than the inner angle (down) so we didn’t take take the trade. For teh previous two weeks and again this week the CCI(20) continued to rise but we had rejected the trade due to the slow initial momentum.
Industry Rotation the last two weeks: All of the top five industries are positive and four of the bottom five are negative. Bullish: Banks (BKX) remains in and now leads the top five. Networkers (NWX) and Brokers (XBD) have entered the top five.  Bearish: Gold & Silver (XAU) has entered the top five. Computer Tech (XCI) and Computer Hardware (HWI) have left the top five. 
Focus this week: There’s a lot of doom and gloom out there, but Jim Rogers is bullish on 2012. Watch Jim Rogers Economic Times of India Interview – 13 January 2012 in which Jim explains: "Commodities prices may have been in a short term down, but on long term commodity prices are still in the major uptrend and that is going to continue. They have postponed Armageddon, We discussed before here that 2013 and 2014 are what I am most worried about because this year everybody is trying to just get through the next election. There are 40 elections in 2012. Everybody is going to do their best to get us through the election. Watch out for 2013."

Bob Chapman of The International Forecaster is bullish on 2012 too, but for a different reason. Watch Bob on this Friday’s Alex Jones Show, Part 1 and Part2.

–Donald Pirl www.s2pmarketsignal.com

S2P Market Signal Commentary may be freely forwarded and otherwise distributed providing content is unchanged and authorship acknowledged.
© 2011 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

 

January 8, 2012

1-6-12 Market Commentary

Filed under: Market Commentary — dlpirl @ 8:15 pm

Subscriber email sent 1-8-12:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio rose from 0.90 to 1.22, advancing into bullish territory. The total count of securities in bullish or bearish patterns increased 2% to 1791. The count of bearish stocks decreased 13%, while the count of stocks in bullish patterns increased by 18%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market moving into bullish territory. Paid subscribers have access to the Excel data from which the image to the left is built.

The well known market breadth indicator, the Nasdaq McClellan Summation Index (NASI) increased for the sixteenth time in the last twenty-seven weeks, gaining 113 points. At -308, it is now above the November 2009 bottom, as well as the February 2010 bottom, the June 2010 bottom, and the August 2011 bottom.
In this week’s volume analysis the Russell 2000 ended in Accumulation mode. In the last two weeks it had three (3) Accumulation days and two (2) Distribution days. Of the other indexes, the S&P 500 Deposit Receipts and ended the week in neither Accumulation nor Distribution mode while the Diamonds Trust ended the week in Distribution mode. (Accumulation days are counted when the index closes up on higher volume than the prior day while Distribution days occur when the index closes down on volume higher than the prior market day.)  Last week the Russell 2000 ended the week in Distribution mode.
Momentum: After our exit at Friday 12/30 open, the CCI(20) rose, but at a weaker angle up than the angle down for our close. The CCI(20) rose sharply on Tuesday, but we had previously rejected the trade. We now wait for the CCI(20) to drop back into the +/-50 range for a valid Zero Line Reject (ZLR) entry point.
In Woodie’s CCI trading system, six consecutive bars above or below zero are required for a change of trend. The weekly CCI(20) of the Nasdaq Composite Index began an up trend six weeks ago. The Daily CCI(20) began a Woodie’s up trend four weeks ago.
Two weeks ago, the CCI(20) rose forming a pivot within the +/-50 range, but the outward angle (up) was less than the inner angle (down) so we didn’t take take the trade. A week ago and again this week the CCI(20) continued to rise but we had rejected the trade due to the slow initial momentum.
 
Industry Rotation the last two weeks: All of the top five industries are positive and all of the bottom five are negative. Bullish: Banks (BKX) remains in the top five. Computer Tech (XCI) and Computer Hardware (HWI) have entered the top five. Oil (XOI) has left the top five. S&P Retail (RLX), Disk Drives (DDX), and Computer Hardware (HWI) have left the bottom five. Bearish: REITs (DJR) and Networkers (NWX) have entered the bottom five.

–Donald Pirl www.s2pmarketsignal.com


S2P Market Signal Commentary may be freely forwarded and otherwise distributed providing content is unchanged and authorship acknowledged.
© 2012 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

January 1, 2012

12-30-11 Market Commentary

Filed under: Market Commentary — dlpirl @ 4:31 pm

Subscriber email sent 1-1-12:

Market Breadth: With this week’s market decline, our Bull/Bear Point and Figure Ratio rose from 0.78 to 0.90, remaining in bearish territory. The total count of securities in bullish or bearish patterns increased 4% to 1761. The count of bearish stocks decreased 3%, while the count of stocks in bullish patterns increased by 12%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market continuing in bearish territory. Paid subscribers have access to the Excel data from which the image to the left is built.

The well known market breadth indicator, the Nasdaq McClellan Summation Index (NASI) increased for the fifteenth time in the last twenty-six weeks, gaining 42 points. At -421, it remains below the November 2009 bottom, but is now above the February 2010 bottom, as well as the June 2010 bottom and the August 2011 bottom.
In this week’s volume analysis the Russell 2000 ended in Distribution mode. In the last two weeks it had two (2) Accumulation days and two (2) Distribution day. Of the other indexes, both the S&P 500 Deposit Receipts and the Diamonds Trust ended the week in neither Accumulation nor Distribution mode. (Accumulation days are counted when the index closes up on higher volume than the prior day while Distribution days occur when the index closes down on volume higher than the prior market day.)  Last week the Russell 2000 ended the week in neither Accumulation nor Distribution mode.
Momentum: At Tuesday 12/20 close we got a Zero Line Reject (ZLR) Long entry point for the Wednesday 12/21 open. Wednesday close the CCI(20) fell, but not below the ZLR pivot point, so we stayed in the trade and the CCI(20) rose for the remainder of that week. At Wednesday 12/28 close the CCI(20) dropped sharply giving us our exit point. The result of the trade was a gain of 6.56 points on the Nasdaq Composite Index or $0.08 per share of QQQ.
In Woodie’s CCI trading system, six consecutive bars above or below zero are required for a change of trend. The weekly CCI(20) of the Nasdaq Composite Index began an up trend five weeks ago. The Daily CCI(20) began a Woodie’s up trend three weeks ago and has not yet had six (6) consecutive days below zero. to change the trend.
On Friday 12/2 the CCI(20) weekly gave a valid ZLR Long entry point for Monday 12/5 open. The CCI(20) rose last week, but fell this week, giving us an exit signal for Monday 12/19 open. The results of this trade was a loss of 102.4 points on the Nasdaq Composite of $2.40 per share of QQQ.
Last week the CCI(20) rose forming a pivot within the +/-50 range, but the outward angle (up) was less than the inner angle (down) so we didn’t take take the trade. This week the CCI(20) continued to rise slightly.
Industry Rotation the last two weeks: All of the top five industries are positive and three of the bottom five are negative. Bullish: Banks (BKX) remains in the top five. Computer Tech (XCI) has left the bottom five. Gold and Silver (XAU) remains in the bottom five. Bearish: REITs (DJR) has left the top five. Oil (XOI) has entered the top five. Disk Drives (DDX) and Computer Hardware (HWI) remain in the bottom five. S&P Retail (RLX) has entered the bottom five.

–Donald Pirl www.s2pmarketsignal.com


S2P Market Signal Commentary may be freely forwarded and otherwise distributed providing content is unchanged and authorship acknowledged.
© 2011 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

December 24, 2011

12-23-11 Market Commentary

Filed under: Market Commentary — dlpirl @ 4:34 pm

Subscriber email

sent 12-24-11:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio climbed from 0.57 to 0.78, remaining in bearish territory. The total count of securities in bullish or bearish patterns increased 3% to 1701. The count of bearish stocks decreased 9%, while the count of stocks in bullish patterns increased by 24%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market continuing in bearish territory. Paid subscribers have access to the Excel data from which the image to the left is built.

The well known market breadth indicator, the Nasdaq McClellan Summation Index (NASI) increased for the fourteenth time in the last twenty-five weeks, gaining 6 points. At -463, it remains below the November 2009 bottom, the February 2010 bottom, but above the June 2010 bottom.
In this week’s volume analysis the Russell 2000 ended in neither Accumulation nor Distribution mode. In the last two weeks it had three (3) Accumulation days and one (1) Distribution day. Of the other indexes, both the S&P 500 Deposit Receipts and the Diamonds Trust ended the week in neither Accumulation nor Distribution mode. (Accumulation days are counted when the index closes up on higher volume than the prior day while Distribution days occur when the index closes down on volume higher than the prior market day.)  Last week the Russell 2000 ended the week in Accumulation mode.
Momentum: At Tuesday 12/20 close we got a Zero Line Reject (ZLR) Long entry point for the Wednesday 12/21 open. Wednesday close the CCI(20) fell, but not below the ZLR pivot point, so we stay in the trade and the CCI(20) rose for the remainder of the week. We will continue to follow this trade in next week’s commentary.
In Woodie’s CCI trading system, six consecutive bars above or below zero are required for a change of trend. The weekly CCI(20) of the Nasdaq Composite Index began an up trend four weeks ago. The Daily CCI(20) began a Woodie’s up trend two weeks ago and has not yet had six (6) consecutive days below zero. to change the trend.
On Friday 12/2 the CCI(20) weekly gave a valid ZLR Long entry point for Monday 12/5 open. The CCI(20) rose last week, but fell this week, giving us an exit signal for Monday 12/19 open. The results of this trade was a loss of 102.4 points on the Nasdaq Composite of $2.40 per share of QQQ.
This week the CCI(20) rose forming a pivot within the +/-50 range, but the outward angle (up) was less than the inner angle (down) so we don’t take the trade.
Industry Rotation the last two weeks: All of the top five industries are positive and all of the bottom five are negative. Bullish: REITs (DJR) remains in the top five. Banks (BKX) has entered the top five. Gold and Silver (XAU) remains in the bottom five. Networkers (NWX) and Brokers (XBD) have left the bottom five. Bearish: Oil Services (OSX) has left the bottom five. Disk Drives (DDX), Computer Hardware (HWI) and Computer Tech (XCI) have entered the bottom five.

–Donald Pirl www.s2pmarketsignal.com


S2P Market Signal Commentary may be freely forwarded and otherwise distributed providing content is unchanged and authorship acknowledged.
© 2011 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

December 18, 2011

12-16-11 Market Comentary

Filed under: Market Commentary — dlpirl @ 7:54 pm

Subscriber email sent 12-18-11:

Market Breadth: With this week’s market sharp drop, our Bull/Bear Point and Figure Ratio fell from 0.86 to 0.57, moving further into Bearish territory. The total count of securities in bullish or bearish patterns increased 13% to 1651. The count of bearish stocks increased 33%, while the count of stocks in bullish patterns decreased by 12%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market continuing in bearish territory. Paid subscribers have access to the Excel data from which the image to the left is built.

The well known market breadth indicator, the Nasdaq McClellan Summation Index (NASI) decreased for the eleventh time in the last twenty-four weeks, losing 150 points. At -469, it has broken below the November 2009 bottom, the February 2010 bottom, but remains above the June 2010 bottom.
In this week’s volume analysis the Russell 2000 ended in  Accumulation mode. In the last two weeks it had three (3) Accumulation days and three (3) Distribution days. Of the other indexes, both the S&P 500 Deposit Receipts and the Diamonds Trust ended the week in Distribution mode. (Accumulation days are counted when the index closes up on higher volume than the prior day while Distribution days occur when the index closes down on volume higher than the prior market day.)  Last week the Russell 2000 also ended the week in Accumulation mode.
Momentum: At Friday 12/9 close we got a Zero Line Reject (ZLR) Long entry point for the Monday 12/12 open. Mon 12/12 close brought the CCI(20) downwards and at Tue 12/13 close he CCI(20) was below the CCI(20) Zero Line Reject (ZLR) pivot point point, so we exited the trade at Wed 12/14 open for a loss of 51.11 points on the Nasdaq Composite and $0.87 per share of QQQ.
In Woodie’s CCI trading system, six consecutive bars above or below zero are required for a change of trend. The weekly CCI(20) of the Nasdaq Composite Index began an up trend three weeks ago. The Daily CCI(20) began a Woodie’s up trend last week, but currently has three (3) days below zero.
On Friday 12/2 the CCI(20) weekly gave a valid ZLR Long entry point for Monday 12/5 open. The CCI(20) rose last week, but fell this week, giving us an exit signal for Monday 12/19 open. We will report the results of this trade in next week’s commentary.
Industry Rotation the last two weeks: Only three of the top five industries are positive and all of the bottom five are negative. Bullish: REITs (DJR) has entered the top five. Gold and Silver (XAU) and Oil Services (OSX) have entered the bottom five. Internet IW (IIX) and Networkers (NWX) have left the bottom five.  Bearish: Brokers (XBD), Computer Hardware (HWI), Banks (BKX), and Disk Drives (DDX) have left the top five. Networkers (NWX) and Brokers (XBD) have entered the bottom five.
Focus this week: Don’t miss Max Keiser giving insights into how JP Mogan made John Corzine steal MF Global client money.

–Donald Pirl www.s2pmarketsignal.com

S2P Market Signal Commentary may be freely forwarded and otherwise distributed providing content is unchanged and authorship acknowledged.
© 2011 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

 

December 9, 2011

12-9-11 Market Commentary

Filed under: Market Commentary — dlpirl @ 10:24 pm

Subscriber email sent 12-9-11:

Market Breadth: With this week’s market strong rise, our Bull/Bear Point and Figure Ratio decreased from 0.91 to 0.86, moving slightly further into Bearish territory. The total count of securities in bullish or bearish patterns increased 1% to 1467. The count of bearish stocks increased 4%, while the count of stocks in bullish patterns decreased by 2%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market continuing in bearish territory. Paid subscribers have access to the Excel data from which the image to the left is built.

The well known market breadth indicator, the Nasdaq McClellan Summation Index (NASI) increased for the thirteenth time in the last twenty-three weeks, gaining 8 points. At -319, it continues above the November 2009 bottom, the February 2010 bottom, and the June 2010 bottom.
In this week’s volume analysis the Russell 2000 ended in  Accumulation mode. In the last two weeks it had four (4) Accumulation days and three (3) Distribution days. Of the other indexes, both the S&P 500 Deposit Receipts and the Diamonds Trust ended the week in neither Accumulation nor Distribution mode. (Accumulation days are counted when the index closes up on higher volume than the prior day while Distribution days occur when the index closes down on volume higher than the prior market day.)  Last week the Russell 2000 ended the week in neither Accumulation nor Distribution mode.
Momentum: At Wednesday 12/5 close the CCI(20) had 6 days above zero to begin a Woodie’s Long trend. At Friday 12/9 close we got a Zero Line Reject (ZLR) Long entry point for the Monday 12/12 open. We will follow the results of this trade simulation in next week’s commentary.
In Woodie’s CCI trading system, six consecutive bars above or below zero are required for a change of trend. The weekly CCI(20) of the Nasdaq Composite Index began an up trend two weeks ago. The Daily CCI(20) began a Woodie’s up trend this week.
On Friday 12/2 the CCI(20) weekly gave a valid ZLR Long entry point for Monday 12/5 open. The CCI(20) continued rising this week.
Industry Rotation the last two weeks: All of the top five and all of bottom five are positive. Bullish: Brokers (XBD) and Computer Hardware (HWI) remain in the top five. Banks (BKX), and Disk Drives (DDX) have entered the top five. REITs (DJR) has left the bottom five. Gold and Silver (XAU) has left the top five.  Bearish: Internet IW (IIX) and Networkers (NWX) remain in the bottom five.

–Donald Pirl www.s2pmarketsignal.com

S2P Market Signal Commentary may be freely forwarded and otherwise distributed providing content is unchanged and authorship acknowledged.
© 2011 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

 

December 2, 2011

12-2-11 Market Commentary

Filed under: Market Commentary — dlpirl @ 8:28 pm

Subscriber email sent 12-2-11:

Market Breadth: With this week’s market strong rise, our Bull/Bear Point and Figure Ratio increased from 0.35 to 0.91, moving to the outside edge of Bearish territory. The total count of securities in bullish or bearish patterns decreased 10% to 1451. The count of bearish stocks decreased 37%, while the count of stocks in bullish patterns increased by 66%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market advancing towards bullish territory. Paid subscribers have access to the Excel data from which the image to the left is built.

The well known market breadth indicator, the Nasdaq McClellan Summation Index (NASI) decreased for the tenth time in the last twenty-two weeks, losing 143 points. At -327, it continues above the November 2009 bottom, the February 2010 bottom, and the June 2010 bottom.
In this week’s volume analysis the Russell 2000 ended in neither Accumulation nor Distribution mode. In the last two weeks it had two (2) Accumulation days and four (4) Distribution days. Of the other indexes, both the S&P 500 Deposit Receipts and the Diamonds Trust ended the week in neither Accumulation nor Distribution mode. (Accumulation days are counted when the index closes up on higher volume than the prior day while Distribution days occur when the index closes down on volume higher than the prior market day.)  Last week the Russell 2000 also ended the week in neither Accumulation nor Distribution mode.
Momentum: The CCI(20) now has 3 days above zero and at 35.89 is within the =/- range for a ZLR (Zero Line Reject) short entry signal should the market turn quickly downwards.
In Woodie’s CCI trading system, six consecutive bars above or below zero are required for a change of trend. The weekly CCI(20) of the Nasdaq Composite Index begins an up trend one week ago. The Daily CCI(20) began a Woodie’s down last week, but could switch back to up with three more days above zero.
On Friday 12/2 the CCI(20) weekly re-entered the +/-50 range for a valid ZLR Long entry point at Monday 12/5 open. We will follow the results of this trade simulation in next week’s commentary.
Industry Rotation the last two weeks: All of the top five and all but one of bottom five are positive. Bullish: Brokers (XBD) and Computer Hardware (HWI) have entered the top five. Semis (SOX), Banks (BKX), and Disk Drives (DDX) have left the bottom five. Bearish: REITs (DJR) and Internet IW (IIX) have entered the bottom five. Networkers (NWX) remain in the bottom five. Computer Tech (XCI) has left the top five. Gold and Silver (XAU) has left the bottom five and entered the top five. 

–Donald Pirl www.s2pmarketsignal.com

S2P Market Signal Commentary may be freely forwarded and otherwise distributed providing content is unchanged and authorship acknowledged.
© 2011 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

 

November 27, 2011

11-25-11 Market Commentary

Filed under: Market Commentary — dlpirl @ 1:59 pm

Subscriber email sent 11-25-11:

Market Breadth: With this week’s market decline, our Bull/Bear Point and Figure Ratio decreased from 0.80 to 0.35, moving deeper into Bearish territory. The total count of securities in bullish or bearish patterns increased 2% to 1613. The count of bearish stocks increased 37%, while the count of stocks in bullish patterns decreased by 40%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market advancing into bearish territory. Paid subscribers have access to the Excel data from which the image to the left is built.

The well known market breadth indicator, the Nasdaq McClellan Summation Index (NASI) decreased for the ninth time in the last twenty-one weeks, losing 311 points. At -184, it continues above the November 2009 bottom, the February 2010 bottom, and the June 2010 bottom.
In this week’s volume analysis the Russell 2000 ended in neither Accumulation nor Distribution mode. In the last two weeks it had two (2) Accumulation days and three (3) Distribution days. Of the other indexes, both the S&P 500 Deposit Receipts and the Diamonds Trust ended the week in neither Accumulation nor Distribution mode. (Accumulation days are counted when the index closes up on higher volume than the prior day while Distribution days occur when the index closes down on volume higher than the prior market day.)  Last week the Russell 2000 ended the week in Distribution mode.
Momentum: At Wednesday 11/23 close we have 6 days of the CCI(20) Daily below zero for a change of trend. The CCI(20) is below -100, far below the +/-50 range for a valid Zero Line Reject (ZLR) short entry.
In Woodie’s CCI trading system, six consecutive bars above or below zero are required for a change of trend. The weekly CCI(20) of the Nasdaq Composite Index began an up trend one week ago. The Daily CCI(20) began a Woodie’s down trend this week.
Last week on Friday 11/18 with 6 weeks above zero, the CCI(20) weekly began an up trend. This week the CCI(20) fell outside the +/-50 range for valid ZLRs.
Industry Rotation the last two weeks: Again this week, all of the top five and bottom five are negative. Bullish: Computer Tech (XCI) has entered the top five. Brokers (XBD) and Computer Hardware (HWI) have left the bottom five. Gold and Silver (XAU) remains in the bottom five.  Bearish: Semis (SOX) has entered the bottom five. Banks (BKX) and Disk Drives (DDX) continue in the bottom five. S&P Retail has left the top five. Networkers (NWX) have re-entered the bottom five.

–Donald Pirl www.s2pmarketsignal.com

S2P Market Signal Commentary may be freely forwarded and otherwise distributed providing content is unchanged and authorship acknowledged.
© 2011 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

 

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