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

February 27, 2010

2-26-2010 Market Commentary

Filed under: Market Commentary — dlpirl @ 8:40 pm

Subscriber email sent 2-27-10:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio rose slightly from 2.11 to 2.16. The total count of securities in Bullish or Bearish patterns increased 1 percent to 1263. The count of Bearish stocks decreased fractionally, while the count of stocks in Bullish patterns increased by 2%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market holding bullish strength, attempting a rebound as it did after a similar pull-backs in July 2009. 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 ninth time in thirteen weeks with a rise of 139 points. At -62, it continues above the September and December 2008 tops, has broken above the June 2008 top and the June 2009 bottom, but remains below the October 2007 top.
This week the Nasdaq Composite Index ended the week in Accumulation mode with five (5) Accumulation days and two (2) Distribution days in the last two weeks. 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: As expected, the CCI(20) began a Woodie’s up trend this week. We now wait for a return to the +/- 50 range for a zero line reject (ZLR) Long 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 been in an uptrend for forty-two weeks. The Daily CCI(20) began an up trend this week.
A week ago the weekly CCI(20) gave us a ZLR Long entry signal. This week, the CCI(20) fell, but not as sharply as the rise the previous week in which we entered the trade, so we stay in. We will continue to follow this trade simulation in next week’s commentary.
Industry Rotation the last two weeks: All of the top five industries are positive and all the bottom five are negative. Bullish:  Banks (BKX) and REITs (DJR) have entered the top five. Gold and Silver (XAU) and Oil Services (OSX) have left the top five. Computer Tech (XCI) has left the bottom five. Oil (XOI) has entered to bottom five.  Bearish: Computer Hardware (HWI) leads the bottom five. Disk Drives (DDX) has entered the bottom five.
Focus this week: Time for some fresh economic ideas, isn’t it? Turns out some of the best ideas have been suppressed by the current power structure for a long time.  Look into the work of Henry George.

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 ]

February 20, 2010

2-19-2010 Commentary

Filed under: Market Commentary — dlpirl @ 8:36 pm


Subscriber email sent 2-20-10:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio rose from 1.32 to 2.11. The total count of securities in Bullish or Bearish patterns increased fractionally to 1249. The count of Bearish stocks decreased by 25%, while the count of stocks in Bullish patterns increased by 20%. The new format Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market regaining its bullish strength, as it did after a similar pull-backs in July 2009. 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 eighth time in twelve weeks with a rise of 190 points. At -201, it has broken back above the September and December 2008 tops but remains below others including the June 2008 top and as well as the October 2007 top and the July 2009 bottom.
This week the Nasdaq Composite Index ended the week in Accumulation mode with five (5) Accumulation days and one (1) Distribution day in the last two weeks. 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 DOW (DIA) ended the week in neither Accumulation nor Distribution ode, while the S&P (SPY) ended the week in Accumulation mode.
Momentum: The CCI(20) began a Woodie’s down trend three weeks ago, but in two more days will begin a new up trend. We now wait for a return to the +/- 50 range for a zero line reject (ZLR) Long 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 been in an uptrend for forty-one weeks. The Daily CCI(20) began a down trend three weeks ago and appears likely begin an up trend next week.
Last week the weekly CCI(20) gave us a ZLR Long entry signal. We will continue to follow this trade simulation in next week’s commentary.
Industry Rotation the last two weeks: All of the top five and bottom five industries are positive. Bullish:  All industries are positive. Banks (BKX) and REITs (DJR) have left the bottom five.  Bearish: Semis (SOX) and Computer Hardware (HWI) have left the top five. Computer Tech (XCI) has entered the bottom five. Gold and Silver (XAU) remains in the top five. Oil Services (OSX) has entered the top five.
Focus this week: Which do you suppose has increased more over the last year, Precious Metals or Crude Oil?

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 ]

February 13, 2010

2-12-2010 Market Commentary

Filed under: Market Commentary — dlpirl @ 5:40 pm

Subscriber email sent 2-13-10:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio rose from 1.12 to 1.32. The total count of securities in Bullish or Bearish patterns decreased by 6% to 1241. The count of Bearish stocks decreased by 13%, while the count of stocks in Bullish patterns increased by 1%. The new format Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market attempting to maintain its bullish strength, as it did during a similar pull-backs in July 2009. 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 57 points. At -391, it has continues below as series of recent tops including those of June 2008 and September 2008 as well as the October 2007 top and the July 2009 bottom.
This week the Nasdaq Composite Index ended the week in Accumulation mode with four (4) Accumulation days and two (2) Distribution days in the last two weeks. 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 Distribution mode.
Momentum: The CCI(20) began a Woodie’s down trend two weeks ago. With the CCI(20) now in the +/- 50 range, we wait for a zero line reject (ZLR) 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 been in an uptrend for forty-one weeks. The Daily CCI(20) began a down trend two weeks ago.
The weekly CCI(20) lies within the +/-50 range, and as we mentioned was possible last week, has just given a ZLR Long entry signal.
Industry Rotation the last two weeks: All of the top five industries are positive and all the bottom five industries are negative. Bullish:  Semis (SOX) has entered the top five. Computer Hardware (HWI) remains in the top five. Disk Drives (DDX) have left the bottom five.  Bearish: Banks (BKX) and REITs (DJR) have entered the bottom five. Gold and Silver (XAU) remains in the top five. S&P Retail (RLX) and REITs (DJR) have left the top five. Oil Services (OSX) has left the bottom five.
Focus this week: Looking at the Precious Metals index weekly chart over the last three years, with Slow Stochastics at 20, a bounce off the 34 EMA appears likely presenting what could turn out to be an excellent buy point.

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 ]

February 6, 2010

2-5-2010 Market Commentary

Filed under: Market Commentary — dlpirl @ 2:56 pm

Subscriber email sent 2-6-2010:

Market Breadth: With this week’s market decline, our Bull/Bear Point and Figure Ratio fell from 1.85 to 1.12. The total count of securities in Bullish or Bearish patterns decreased by 5% to 1315. The count of Bearish stocks increased by 27%, while the count of stocks in Bullish patterns decreased by 23%. The new format Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market rapidly losing its bullish strength, although it has recovered from a similar pull-backs as recent as July 2009. 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 ten weeks with a fall of 204 points. At -334, it has now broken below as series of recent tops including those of June 2008 and September 2008 as well as the October 2007 top and the July 2009 bottom.
This week the Nasdaq Composite Index ended the week in neither Accumulation nor Distribution mode with two (2) Accumulation days and four (4) Distribution days in the last two weeks. Last week it 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.) Of the other indexes, both the DOW (DIA) and teh S&P (SPY) ended the week in Accumulation mode.
Momentum: The CCI(20) began a Woodie’s down trend last week. We wait for a zero line reject (ZLR) signal with the CCI(20) in the +/1 50 range.
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 in an uptrend for forty weeks. The Daily CCI(20) began a down trend one week ago.
The weekly CCI(20) continues within the +/-50 range, and has been below zero for two weeks. Upward momentum in the next week or two could give a ZLR Long entry signal.
Industry Rotation the last two weeks: All of the top five and bottom five industries are negative. Bullish:  Computer Hardware (HWI) remains in the top five. S&P Retail (RLX) and REITs (DJR) have entered the top five. Oil Services (OSX) has entered the bottom five. Bearish: All industries are negative. Disk Drives (DDX) have left the top five and lead the bottom five. Banks (BKX) have left the top five. Gold and Silver (XAU) has entered the top five.
Focus this week: If you value precious metals as a hedge against inflation as we do, silver is back to its fall 2009 price levels and looking like a great buy.

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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