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

August 29, 2009

8-28-09 Market Commentary

Filed under: Market Commentary — dlpirl @ 10:57 am
Subscriber email sent 8-29-09:

Market Breadth: With this week’s market fractional rise, our Bull/Bear Point and Figure Ratio rose from 4.11 to 4.36, our fourth highest value on record. The total count of securities in Bullish or Bearish patterns decreased by 6% to 1645. The count of Bearish stocks increased by 1%, while the count of stocks in Bullish patterns increased by 7%. The new format Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market continuing its ever higher rebound 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 seven weeks with a rise of 43 points. At +476, it continues above all tops in recent years except the May 2009 top at +620 which remains within reach.
This week the Nasdaq Composite Index ended the week in Accumulation mode with six (6) Accumulation days and to (1) Distribution day. Last week it also ended in Accumulation 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.)  Of the other indexes both the DOW (DIA) and the S&P (SPY) ended the week in neither Accumulation nor Distribution mode.
Momentum: With the daily CCI(20) in an upward trend, we wait for the CCI(20) to enter the +/-50 range for a Zero Line Reject (ZLR) Long entry signal.
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 has now been above zero for twenty-three weeks, and began an uptrend sixteen weeks ago. The Daily CCI(20) began an uptrend five weeks ago.
Six weeks ago the CCI(20) reversed upward before entering the +/-50 range required for a ZLR entry point. It currently continues above 100, out of range for an entry point.
Industry Rotation the last two weeks: All the top five and bottom five industries are positive. Bullish: REITs (DJR) has left the bottom five and entered the top five. Disk Drives (DDX) has entered the top five. Internet IW (IIX) has left the bottom five. Bearish: Banks (BKX) and Networkers (NWX) have left the top five.  Gold & Silver (XAU) have left the bottom five.

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–Donald Pirl www.s2pmarketsignal.com

S2P Market Signal Commentary may be freely forwarded and otherwise distributed providing content is unchanged and authorship acknowledged.
© 2004 Sand2Pirls, Inc. All rights reserved. [ Terms and Conditions/Disclaimer ]

August 23, 2009

Filed under: Market Commentary — dlpirl @ 5:44 pm

8-21-09 Market Commentary

Filed under: Market Commentary — dlpirl @ 5:42 pm
Subscriber email sent 8-23-09:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio fell from 5.30 to 4.11, our sixth highest value on record. The total count of securities in Bullish or Bearish patterns decreased by 5% to 1549. The count of Bearish stocks increased by 17%, while the count of stocks in Bullish patterns decreased by 9%. The new format Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market currently dipping, but continuing its ever higher rebound 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) decreased for the ninth time in twenty-three weeks with a loss of 63 points. At +432, it continues above all tops in recent years except the May 2009 top at +620 which remains within reach.
This week the Nasdaq Composite Index ended the week in Accumulation mode with five (5) Accumulation days and to (2) Distribution days. Last week it 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.)  Of the other indexes both the DOW (DIA) and the S&P (SPY) ended the week in Accumulation mode.
Momentum: At close on Tuesday 7/21, the CCI(20) had six days above zero, beginning an uptrend on the daily scale. This week the CCI(20) entered the +/-50 range giving a ZLR Long entry signal at Wednesday 8/12 close. At Friday 8/14 close, it reversed and gave and exit signal for Monday 8/17 open. The result was a loss of 56.56 points on the Nasdaq Composite or  $1.13 per share of QQQQ.
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 has now been above zero for twenty-one weeks, and began an uptrend fifteen weeks ago. The Daily CCI(20) began an uptrend four weeks ago.
The CCI(20) now has twenty-two weeks above zero, fifteen weeks into an upward trend. Five weeks ago the CCI(20) reversed upward before entering the +/-50 range required for a ZLR entry point.
Industry Rotation the last two weeks: All the top five industries are positive and only the bottom-most one is negative. Bullish: Banks (BKX) remain in the top five.  Gold & Silver (XAU) remain in the bottom five. Networkers (NWX) is in the top five. Semis (SOX) has left the bottom five. Bearish: REITs (DJR) lead the bottom five. Disk Drives (DDX) has left the top five. S&P retail (RLX) remains in the bottom five. Oil Services (OSX) and Oil (XOI) have left he bottom five. Internet IW (IIX) 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.
© 2004 Sand2Pirls, Inc. All rights reserved. [ Terms and Conditions/Disclaimer ]

August 16, 2009

8-14-09 Market Commentary

Filed under: Market Commentary — dlpirl @ 6:38 am

Subscriber email sent 8-16-09:

Market Breadth: With this week’s fractional market decline, our Bull/Bear Point and Figure Ratio fell 5.55 to 5.30, our second highest value on record. The total count of securities in Bullish or Bearish patterns decreased by 8% to 1625. The count of Bearish stocks decreased by 4%, while the count of stocks in Bullish patterns decreased by 8%. The new format Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market continuing its ever higher rebound 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) decreased for the eighth time in twenty-two weeks with a loss of 23 points. At +495, it continues above all tops in recent years except the May 2009 top at +620 which it is within reach.
This week the Nasdaq Composite Index ended the week in neither Accumulation nor Distribution mode with three (3) Accumulation days and three (3) Distribution days. Last week it ended in Accumulation 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.)  Of the other indexes the DOW (DIA) ended the week in Distribution mode while the S&P (SPY) again ended in neither Accumulation nor Distribution mode.
Momentum: At close on Tuesday 7/21, the CCI(20) had six days above zero, beginning an uptrend on the daily scale. This week the CCI(20) entered the +/-50 range giving a ZLR Long entry signal at Wednesday 8/12 close. At Friday 8/14 close, it reversed and gave and exit signal for Monday 8/17 open. We will report the results 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 has now been above zero for twenty-one weeks, and began an uptrend fifteen weeks ago. The Daily CCI(20) began an uptrend three weeks ago.
The CCI(20) now has twenty-one weeks above zero, fifteen weeks into an upward trend. Four weeks ago the CCI(20) reversed upward before entering the +/-50 range required for a ZLR entry point.
Industry Rotation the last two weeks: All the top five industries are positive and the bottom-most five are negative. Bullish: Banks (BKX) lead the top five.  Gold & Silver (XAU) leads the bottom five. Disk Drives (DDX) has entered the top five. REITs (DJR), Oil Services (OSX), and Oil (XOI) remain in the bottom five. Bearish: Semis (SOX) remains in the bottom five. S&P Retail (RLX) has left the top five.
Focus this week:  For a real understanding of the foundations of the United States economy read this 1992 article that only shows its age by being much more obvious now than when it was written.

The Economic Rape of America – Chapter Three
THE FEDERAL RESERVE BANKERS

–Donald Pirl www.s2pmarketsignal.com

S2P Market Signal Commentary may be freely forwarded and otherwise distributed providing content is unchanged and authorship acknowledged.
© 2004 Sand2Pirls, Inc. All rights reserved. [ Terms and Conditions/Disclaimer ]

August 8, 2009

8-7-09 Market Commentary

Filed under: Market Commentary — dlpirl @ 4:23 pm

Subscriber email sent 8-8-09:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio rose to another new high from 4.97 to 5.55. The total count of securities in Bullish or Bearish patterns increased by 7% to 1762. The count of Bearish stocks decreased by 3%, while the count of stocks in Bullish patterns increased by 8%. The new format Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market continuing its ever higher rebound 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 fourteenth time in twenty-one weeks with a gain of 119 points. At +519, it continues above all tops in recent years except the May 2009 top at +620 which it is fast approaching.
This week the Nasdaq Composite Index ended the week in Accumulation mode with four (4) Accumulation days and three (3) Distribution days. Last week it 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.)  Of the other indexes the DOW (DIA) ended the week in Accumulation mode while the S&P (SPY) ended in neither Accumulation nor Distribution mode.
Momentum: At close on Tuesday 7/21, the CCI(20) had six days above zero, beginning an uptrend on the daily scale. We continue to wait for the CCI(20) to enter the +/-50 range for a possible ZLR Long entry signal. The lowest it got this week was about +63.
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 has now been above zero for eighteen weeks, and began an up trend twelve weeks ago. The Daily CCI(20) began an uptrend two weeks ago.
The CCI(20) now has nineteen weeks above zero, twelve weeks into an upward change of trend. Four weeks ago the CCI(20) reversed upward before entering the +/-50 range required for a ZLR entry point.
Industry Rotation the last two weeks: All the top five industries are positive and the bottom-most five are negative. Bullish: REITs (DJR) have entered and lead the top five. Banks (BKX) remain in the top five.  S&P Retail (RLX) has entered the top five. Oil Services (OSX) remain in the bottom five. Computer Hardware (HWI) and Networkers (NWX) have left the bottom five. Oil (XOI) has entered the bottom five. Bearish: Semis (SOX) has entered the bottom five.
Focus this week:  Since May 2000, looking at the value of gold and silver vs. the Dow or Nasdaq on a per dollar basis, its clear that precious metals beat “buy and hold” investing.
Gold, Silver, Dow Jones and Nasdaq per USD

–Donald Pirl www.s2pmarketsignal.com

S2P Market Signal Commentary may be freely forwarded and otherwise distributed providing content is unchanged and authorship acknowledged.
© 2004 Sand2Pirls, Inc. All rights reserved. [ Terms and Conditions/Disclaimer ]

August 1, 2009

7-31-09 Market Commentary

Filed under: Market Commentary — dlpirl @ 7:33 pm

Subscriber email sent 8-1-09:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio rose from 4.15 to 4.97, a new highest value on our record. The total count of securities in Bullish or Bearish patterns increased by 6% to 1654. The count of Bearish stocks decreased by 8%, while the count of stocks in Bullish patterns increased by 10%. The new format Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market continuing its ever higher rebound 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 thirteenth time in twenty weeks with a gain of 193 points. At +400, it continues above the October 2007 top, and other tops since then.
This week the Nasdaq Composite Index ended the week in neither Accumulation nor Distribution mode with five (5) Accumulation days and one (1) Distribution day. Volume Analysis is not available last week for unknown reasons. (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.)  Of the other indexes the S&P (SPY) ended the week in Accumulation mode while the DOW (DIA) ended in neither Accumulation nor Distribution mode.
Momentum: At close on Tuesday 7/21, the CCI(20) had six days above zero, beginning an uptrend on the daily scale. We continue to wait for the CCI(20) to enter the +/-50 range for a possible ZLR Long entry signal.
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 has now been above zero for eighteen weeks, and began an up trend eleven weeks ago. The Daily CCI(20) began an uptrend one week ago.
The CCI(20) now has eighteen weeks above zero, thirteen weeks into an upward change of trend. Three weeks ago the CCI(20) reversed upward before entering the +/-50 range required for a ZLR entry point.
Industry Rotation the last two weeks: All the top and only the bottom-most industriy is negative. Bullish: Banks (BKX) has left the bottom five and entered the top five.  Oil Services (OSX) has left the top five adn entered the bottom five.  Bearish: Computer Hardware (HWI) remains in the bottom five. Networkers (NWX) has entered the bottom five.
Focus this week:  Why Bernanke Is in Panic Mode by Gary North

–Donald Pirl www.s2pmarketsignal.com

S2P Market Signal Commentary may be freely forwarded and otherwise distributed providing content is unchanged and authorship acknowledged.
© 2004 Sand2Pirls, Inc. All rights reserved. [ Terms and Conditions/Disclaimer ]

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