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

September 27, 2009

9-25-09 Market Commentary

Filed under: Market Commentary — dlpirl @ 6:44 pm
Subscriber email sent 9-27-09:

Market Breadth: With this week’s market decline, our Bull/Bear Point and Figure Ratio fell from 6.63 to 5.39, the third highest value on record. The total count of securities in Bullish or Bearish patterns increased by 11% to 1758. The count of Bearish stocks increased by 6%, while the count of stocks in Bullish patterns decreased by 14%. The new format Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market currently pulling back, but otherwise 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 fourth time in eleven weeks with a fall of 17 points. At +540, it continues above the November 2006 and February 2007 tops, and is approaching the late April 2009 top.
This week the Nasdaq Composite Index ended the week in neither Accumulation nor Distribution mode but with a total five (5) Accumulation days and one (1) Distribution day. 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 the S&P (SPY) ended the week in Accumulation mode while the DOW (DIA) ended in neither Accumulation nor Distribution mode.
Momentum: With the daily CCI(20) in an upward trend, the CCI(20) has now entered the +/-50 range. An up day for the CCI(20) early next week should give a Zero Line Reject (ZLR) Long entry signal. In the current trend we have had two ZLRs with the CCI(20) dropping below this range and rising back above it, presenting historically risky opportunities which we chose to avoid.
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-seven weeks, and began an uptrend twenty weeks ago. The Daily CCI(20) began an uptrend nine weeks ago.
Ten weeks ago the CCI(20) reversed upward before entering the +/-50 range required for a ZLR entry point. It currently continues just above 100, out of range for an entry point.
Industry Rotation the last two weeks: All the top five industries are positive and all the bottom five are negative. Bullish: Networkers (NWX) remains in the top five. Gold & Silver (XAU) remains in the bottom five. Internet Interactive Week has entered the top five. Bearish: Disk Drives (DDX) has entered the bottom five. REITs (DJR) has left the top five.

Subscribe directly to Sand 2 Pirls Market Commentary directly here (free).

–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 ]

September 20, 2009

9-18-09 Market Commentary

Filed under: Market Commentary — dlpirl @ 3:19 pm
Subscriber email sent 9-20-09:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio rose from 5.35 to 6.63, a new highest value on record. The total count of securities in Bullish or Bearish patterns increased by 17% to 1983. The count of Bearish stocks decreased by 3%, while the count of stocks in Bullish patterns increased by 21%. 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 seventh time in ten weeks with a rise of 44 points. At +557, it continues above the November 2006 and February 2007 tops, and is approaching the late April 2009 top.
This week the Nasdaq Composite Index ended the week in Accumulation mode with five (5) Accumulation days and zero (0) Distribution days. (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 continue to wait for the CCI(20) to enter the +/-50 range for a Zero Line Reject (ZLR) Long entry signal. In the current trend we have had two ZLRs with the CCI(20) dropping below this range and rising back above it, presenting historically risky opportunities which we chose to avoid.
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-six weeks, and began an uptrend nineteen weeks ago. The Daily CCI(20) began an uptrend eight weeks ago.
Nine weeks ago the CCI(20) reversed upward before entering the +/-50 range required for a ZLR entry point. It currently continues just above 100, out of range for an entry point.
Industry Rotation the last two weeks: All the top and bottom five industries are positive. Bullish: Networkers (NWX) remains in the top five. Banks (BKX) and Brokers (XBD) have left the bottom five. Gold & Silver (XAU) leads the bottom five. Oil Services (OSX) has left the top five. REITs (DJR) has entered the top five.  Bearish: Disk Drives (DDX) has left the top five.

Subscribe directly to Sand 2 Pirls Market Commentary directly here (free).

–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 ]

September 14, 2009

9-11-09 Market Commentary

Filed under: Market Commentary — dlpirl @ 5:22 am

Subscriber email sent 9-14-09:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio rose from 3.36 to 5.35, our second highest value on record. The total count of securities in Bullish or Bearish patterns increased by 17% to 1695. The count of Bearish stocks decreased by 20%, while the count of stocks in Bullish patterns increased by 28%. 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 sixth time in nine weeks with a rise of 95 points. At +387, it back above the November 2006 and February 2007 tops, and other tops since these.
Market Volume data was not available this week for unknown reasons.
Momentum: With the daily CCI(20) in an upward trend, we continue to wait for the CCI(20) to enter the +/-50 range for a Zero Line Reject (ZLR) Long entry signal. We have now had two recent ZLRs when the CCI(20) dropped below this range and rose back, presenting historically risky opportunities which we chose to avoid.
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-five weeks, and began an uptrend eighteen weeks ago. The Daily CCI(20) began an uptrend seven weeks ago.
Eight weeks ago the CCI(20) reversed upward before entering the +/-50 range required for a ZLR entry point. It currently continues just above 100, out of range for an entry point.
Industry Rotation the last two weeks: All the top five industries are positive and only three of the bottom five are negative. Bullish: Disk Drives (DDX) remains in the top five. Networkers (NWX) has entered the top five. REITs (DJR) has left the bottom five.  Bearish: Gold & Silver (XAU) leads the top five. Brokers (XBD) has entered the bottom five. Banks (BKX) leads the bottom five. Oil Services (OSX) has left the bottom five and entered the top five. Computer Hardware (HWI) has left the top five.

Subscribe directly to Sand 2 Pirls Market Commentary directly here (free).

–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 ]

September 13, 2009

9-4-09 Market Commentary

Filed under: Market Commentary — dlpirl @ 4:40 pm
Subscriber email sent 9-6-09:

Market Breadth: With this week’s market fractional decline, our Bull/Bear Point and Figure Ratio fell from 4.36 to 3.36, our tenth highest value on record. The total count of securities in Bullish or Bearish patterns decreased by 12% to 1448. The count of Bearish stocks increased by 8%, while the count of stocks in Bullish patterns decreased by 12%. 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 third time in eight weeks with a drop of 184 points. At +291, it has just fallen below the November 2006 and February 2007 tops, but remains above other tops since these.
This week the Nasdaq Composite Index ended the week in Accumulation mode with four (4) 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 the S&P (SPY) ended the week in Accumulation mode while the DOW (DIA) ended in neither Accumulation nor Distribution mode.
Momentum: With the daily CCI(20) in an upward trend, we continue to wait for the CCI(20) to enter the +/-50 range for a Zero Line Reject (ZLR) Long entry signal. We have now had two recent ZLRs when the CCI(20) dropped below this range and rose back, presenting historically risky opportunities which we chose to avoid.
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-four weeks, and began an uptrend seventeen weeks ago. The Daily CCI(20) began an uptrend six weeks ago.
Seven weeks ago the CCI(20) reversed upward before entering the +/-50 range required for a ZLR entry point. It currently continues just above 100, out of range for an entry point.
Industry Rotation the last two weeks: All the top five industries are positive and all bottom five are negative. Bullish: Disk Drives (DDX) remains in the top five. Computer Hardware (HWI) has entered the top five. Oil Services (OSX) has entered the bottom five. Bearish: Gold & Silver (XAU) leads the top five. REITs (DJR) has left the top five and entered the bottom five. Banks (BKX) has entered the bottom five.

Subscribe directly to Sand 2 Pirls Market Commentary directly here (free).

–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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