June « 2010 « Sand 2 Pirls Market Commentary

June 26, 2010

6-25-10 Market Commentary

Filed under: Market Commentary — dlpirl @ 9:29 am

Market Breadth: With this week’s market decline, our Bull/Bear Point and Figure Ratio fell from 1.00 to 0.71, back into bearish territory. The total count of securities in bullish or bearish patterns decreased 2% to 1020. The count of bearish stocks in increased 15%, while the count of stocks in bullish patterns decreased by 19%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market shifting between bullish and 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) lost 23 points. At -554, it continues below 2008 and 2009 tops.

This week’s Volume analysis was not available. However, at close Monday 6/28/10 The Nasdaq Composite had 4 Accumulation days and 0 Distribution days and was neither in Accumulation nor Distribution mode. Last 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. The previous 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 at Monday 6/28/10 close, both the DOW (DIA) and the S&P (SPY) ended the week in neither Accumulation nor Distribution mode.

Momentum: On Monday 6/21 we had 6 days of the CCI(20) over zero, beginning a Woodie’s up trend. With the CCI(20) now at -49.95, a sharp enough uptick Monday 6/28 could give Woodie’s ZLR (Zero Line Reject) 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 had been in an uptrend for fifty-eight weeks, but after 6 consecutive days of the CCI(20) below zero, it begins a downtrend. The Daily CCI(20) began an up trend this week.

We now have six weeks of the CCI(20) below zero with the CCI(20) at -53.60. Since, it reversed sharply downwards from last week, we will have a ZLR (Zero Line Reject) short entry signal. 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 industries are positive and only two of the bottom five industries are negative. Bullish: Disk Drives (DDX) and Semis (SOX) have entered the top five. Gold & Silver (XAU) and Oil Services (OSX) have left the top five. Comp Tech (XCI) and Brokers (XBD) have left the bottom five. Bearish: S&P Retail (RLX) remains in the bottom five. REITs (DJR) have left the top five.

Focus this week: For an excellent long term overview of the worlds financial markets, we recommend reading last weeks issue of Bob Chapman’s International Forecaster, The End of The Great Bailouts is Approaching. Also listen to Bob Chapman discussing how “Obama’s Asset Holder ‘Vanguard’ Sold BP Stock Weeks before Gulf Oil Disaster” etc. in 4 parts on Alex Jones radio.

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.

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June 19, 2010

6-18-10 Market Commentary

Filed under: Market Commentary — dlpirl @ 8:46 am

Subscriber email sent 6-19-10:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio rose from 0.45 to 1.00, on the threshold of Bullish territory. The total count of securities in Bullish or Bearish patterns decreased 4% to 1042. The count of Bearish stocks in decreased 30%, while the count of stocks in Bullish patterns increased by 54%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market that appears to be moving out of 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) gained 222 points. At -530, it continues below 2008 and 2009 tops.

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, the DOW (DIA) ended the week in neither Accumulation nor Distribution mode while the S&P (SPY) ended in Accumulation mode.

Momentum: On Friday 6/18 we had 5 days of the CCI(20) over zero, so it appears that next Monday will begin a Woodie’s up trend.

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 fifty-eight weeks. The Daily CCI(20) began a down trend five weeks ago adn will almost certainly begin an up trend next week.

We now have five weeks of the CCI(20) below zero with the CCI(20) at -21.55. If it reverses sharply downwards next week, we will have a ZLR (Zero Line Reject) short entry signal.

Industry Rotation the last two weeks: All of the top five industries are positive and only two of the bottom five industries are negative. Bullish: REITs (DJR) have entered the top five. Disk Drives (DDX) and Networkers (NWX) have left the bottom five. Bearish: Gold & Silver (XAU) has entered the top five. Oil Services (OSX) remains in the top five. Comp Tech (XCI), Brokers (XBD), and S&P Retail (RLX) remain in the bottom five.

Focus this week: Max Keiser talks with Bill Howe about the real economy and a path to freedom from economic slavery.

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.

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June 12, 2010

6-11-10 Market Commentary

Filed under: Market Commentary — dlpirl @ 3:37 pm

Subscriber email sent 6-12-10:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio actually fell slightly 0.54 to 0.45. The total count of securities in Bullish or Bearish patterns increased 14% to 1085. The count of Bearish stocks increased 21%, 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 that appears to be accommodating itself to 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) lost 134 points. At -753, it continues below 2008 and 2009 tops.

This week the Nasdaq Composite Index ended the week in neither Accumulation nor Distribution mode with two (2) Accumulation days and two (2) 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, the DOW (DIA) ended the week in neither Accumulation nor Distribution mode while the S&P (SPY) ended in Accumulation mode.

Momentum: At Tuesday 5/11 close, we had 6 days of CCI(20) below zero, so began a Woodie’s down trend. At Friday 6/4 close we received a valid ZLR (Zero Line Reject) Short entry signal. At Wednesday 7/9 close the CCI(20) rose back above -100, so we exit the trade. The result was a gain of 37.89 points on the Nasdaq or $0.96 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 been in an uptrend for fifty-seven weeks. The Daily CCI(20) began a down trend four weeks ago.

We now have four weeks of the CCI(20) below zero with the CCI(20) at -72.64.

Industry Rotation the last two weeks: All of the top five industries are positive and only three of the bottom five industries are negative. Bullish: Banks (BKX) have left the bottom five. Bearish: Oil Services (OSX) has left the bottom five and now leads the top five. Semis (SOX), Computer Hardware (HWI), and Disk Drives (DDX) have left the top five. Comp Tech (XCI), Brokers (XBD), Disk Drives (DDX), Networkers (NWX), and S&P Retail (RLX) have entered the bottom five.

Focus this week: Think gold is the answer to the problem of currency instability? Here’s another take on he issue of what makes any commodity a good currency. Copper: The Achilles’ Heel of Gold.

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.

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June 5, 2010

6-4-10 Market Commentary

Filed under: Market Commentary — dlpirl @ 2:53 pm

Subscriber email sent 6-5-10:

Market Breadth: This week’s market decline left our Bull/Bear Point and Figure Ratio virtually unchanged as it fell from 0.56 to 0.54. The total count of securities in Bullish or Bearish patterns remained virtually unchanged at 950. The count of Bearish stocks increased 1%, 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 that appears to be accommodating itself to 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) lost 96 points. At -618, it continues below 2008 and 2009 tops.

This week the Nasdaq Composite Index ended the week in Distribution mode with two (2) Accumulation days and four (4) 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, the DOW (DIA) ended the week in Distribution mode while the S&P (SPY) ended in neither Accumulation nor Distribution mode.

Momentum: At Tuesday 5/11 close, we had 6 days of CCI(20) below zero, so began a Woodie’s down trend. At Friday 6/4 close we received a valid ZLR (Zero Line Reject) Short entry signal. 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 has been in an uptrend for fifty-six weeks. The Daily CCI(20) began a down trend three weeks ago.

We now have three weeks of the CCI(20) below zero with the CCI(20) at -48.96.

Industry Rotation the last two weeks: All of the top five industries are positive and all the bottom five industries are negative. Bullish: Oil Services (OSX) remains in the bottom five. Semis (SOX) remains in the top five. Computer Hardware (HWI) and Disk Drives (DDX) have entered the top five. Comp Tech (XCI) has left the bottom five. Bearish: Banks (BKX) remain in the bottom five. Networkers (NWX) and S&P Retail (RLX) has entered the bottom five.

Focus this week: Here are some of the more interesting financial stories from this past week.

Golden Sachs sells $250 Million of BP stock 3 weeks before the gulf oil gusher broke.

The global financial elite are in a panic over possible collapse of the euro.