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

August 29, 2010

8-27-10 Market Commentary

Filed under: Market Commentary — dlpirl @ 3:08 pm

Subscriber email sent 8-29-10:

Market Breadth: With this week’s market decline, our Bull/Bear Point and Figure Ratio fell from 0.79 to 0.62, dropping further into bearish territory. The total count of securities in bullish or bearish patterns increased 10% to 1493. The count of bearish stocks increased 22%, while the count of stocks in bullish patterns decreased by 5%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market moving deeper 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 thirteenth time in the last eighteen weeks, losing 182 points. At -572, it has now broken below the February 2010 bottom and continues below 2008 tops and the November 2009 bottom.
This week the Nasdaq Composite Index ended the week in Accumulation mode with three (3) Accumulation day and two (2) Distribution days in the last two weeks. The previous week 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 S&P (SPY) and the DOW (DIA) ended the week in Accumulation mode.
Momentum: We continue to await a zero line reject (ZLR) short signal in the +/-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 began a downtrend six weeks ago. The Daily CCI(20) aa Woodie’s downtrend one week ago.
Entry for the weekly chart ZLR Short signal was at Monday 8/16 open. The CCI(20) continued downward last week and this. We will continue to follow this trade 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: Networkers (NWX) has entered the top five. Oil (XOI) remains in the bottom five. Semis (SOX) has left the bottom five. Bearish: Gold and Silver ($XAU) continues to lead the top five. Banks (BKX) remains in the bottom five. Oil Services (OSX) has left the bottom five.

Focus this week: Wise investment advice from Catherine Austin Fitts who served as managing director and member of the board of directors of the Wall Street investment bank Dillon, Read & Co. Inc., as Assistant Secretary of Housing and Federal Housing Commissioner at the United States Department of Housing and Urban Development in the first Bush Administration, and was the president of Hamilton Securities Group, Inc., an investment bank and financial software developer. Fitts is now the president of Solari, Inc., and managing member of Solari Investment Advisory Services, LLC. Her advice: Join the Pro-decentralization Team. Unite against the Central Banking Warfare model. Tithe to fund local food coops.

Subscribe 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.
© 2010 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

August 21, 2010

8-20-10 Market Commentary

Filed under: Market Commentary — dlpirl @ 5:43 pm

Subscriber email sent 8-21-10:

Market Breadth: With this week’s fractional market rise, our Bull/Bear Point and Figure Ratio fell from 0.90 to 0.79, dropping further into bearish territory. The total count of securities in bullish or bearish patterns increased 6% to 1294. The count of bearish stocks increased 12%, while the count of stocks in bullish patterns decreased by 1%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market continuing to move back 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 twelfth time in the last seventeen weeks, losing 92 points. At -390, it has now broken back below 2008 tops and the November 2009 bottom, but remains above the February 2010 bottom.
This week the Nasdaq Composite Index ended the week in neither Accumulation nor Distribution mode with two (2) Accumulation day and four (4) Distribution days in the last two weeks. The previous week 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 S&P (SPY) and the DOW (DIA) ended the week in neither Accumulation nor Distribution mode.
Momentum: The CCI(20) has now been below -100 for over 6 days giving us a change of Woodie’s trend at Wednesday close as we expected. We await a zero line reject (ZLR) short signal in the +/-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 began a downtrend six weeks ago. The Daily CCI(20) aa Woodie’s downtrend this week.
Entry for the weekly chart ZLR Short signal was at Monday 8/16 open. The CCI(20) continued downward this week. We will continue to follow this trade in next week’s commentary.
Industry Rotation the last two weeks: Only one of the top five industries is positive, and all the bottom-most are negative. Bullish: Oil Services (OSX) and Oil (XOI) have entered the bottom five. Computer Hardware (HWI) and Disk Drives (DDX) have left the bottom five. Bearish: Gold and Silver ($XAU) continues to lead the top five. Banks (BKX) and Semis (SOX) remain in the bottom five.

Focus this week: Would you have been better off holding gold, silver or U.S. dollars for the last year? As the chart below shows, you would have been better off by 25% holding either gold or silver.
click to view current performance chart

Subscribe 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.
© 2010 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

August 15, 2010

8-13-10 Market Commentary

Filed under: Market Commentary — dlpirl @ 7:24 am

Subscriber email sent 8-15-10:

Market Breadth: With this week’s steep market decline, our Bull/Bear Point and Figure Ratio fell from 1.62 to 0.90, dropping back into bearish territory. The total count of securities in bullish or bearish patterns decreased 11% to 1221. The count of bearish stocks increased 23%, while the count of stocks in bullish patterns decreased by 32%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market reverting back 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 eleventh time in the last sixteen weeks, losing 122 points. At -298, it has now broken back below 2008 tops, but remains above the February 2010 and November 2009 bottoms.
This week the Nasdaq Composite Index ended the week in neither Accumulation nor Distribution mode with one (1) Accumulation day and four (4) Distribution days in the last two weeks. The previous week 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 S&P (SPY) and the DOW (DIA) ended the week in neither Accumulation nor Distribution mode.
Momentum: The CCI(20) is now below -100 with 3 days below zero.We expect a change of Woodie’s trend at Wednesday close in the coming week.
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 a downtrend five weeks ago. The Daily CCI(20) an up trend three weeks ago, but appears to be headed for a change of Woodie’s trend next week.
We received the ZLR reject Short entry signal we anticipated last week. Trade entry is at Monday 8/16 open. We will begin following the result of this trade in next week’s commentary.
Industry Rotation the last two weeks: Only two of the top five industries are positive, and all the bottom-most are negative. Bullish: Oil Services (OSX) and Oil (XOI) have left the top five. Networkers (NWX) has left the bottom five. Bearish: Gold and Silver ($XAU leads the top five. Brokers (XBD) has left the top five. Compuer Hardware (HWI) and Banks (BKX) have entered the bottom five. DiskDrives (DDX) and Semis (SOX) remain in the bottom five.

Focus this week: Economist Marc Faber on Monetization of Debt: “The feds will continue to print, print, print. They will not let up until the final crisis wipes out the system.”
 

Subscribe 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.
© 2010 Sand2Pirls, Inc. All rights reserved. [ Terms and Conditions/Disclaimer ]

August 8, 2010

8-6-10 Market Commentary

Filed under: Market Commentary — dlpirl @ 8:33 pm

Subscriber email sent 8-8-10:

Market Breadth: With this week’s rise, our Bull/Bear Point and Figure Ratio rose from 1.43 to 1.62, advancing further into bullish territory. The total count of securities in bullish or bearish patterns increased 9% to 1367. The count of bearish stocks increased 1%, while the count of stocks in bullish patterns increased by 15%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market regaining 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 fifteen weeks, gaining 162 points. At -176, it has now broken above 2008 tops, as well as the February 2010 and November 2009 bottoms.
This week the Nasdaq Composite Index ended the week in Distribution mode with three (3) Accumulation days and two (2) Distribution days in the last two weeks. The previous week 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 S&P (SPY) and the DOW (DIA) ended the week in Distribution mode.
Momentum: The CCI(20) turned back upwards without dropping below the +50 range, so did not give us a valid ZLR (Zero Line Reject) symbol.  The CCI(20) is now at +62.24, not yet within range for a 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 began a downtrend four weeks ago. The Daily CCI(20) an up trend two weeks ago.
The CCI(20) rose again this week and remains within the +/-50 range. Again we anticipate a possible ZLR reject Short entry signal if the market declines next week.
Industry Rotation the last two weeks: All of the top five industries are positive, and all the bottom-most are negative. Bullish: Brokers (XBD) has entered the top five. Compuer Hardware (HWI) has left the bottom five.  Bearish: DiskDrives (DDX), Semis (SOX), and Networkers (NWX) remain in the bottom five. Oil Services (OSX) and Oil (XOI) have entered the top five. REITs (DJR) has left the top five.

Bob Chapman on The Alex Jones Show gives his usual insightful 1-2 year long view of the economy as influenced by geopolitics and the international banking cartel.
 

Subscribe 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.
© 2010 Sand2Pirls, Inc. All rights reserved. [ Terms and Conditions/Disclaimer ]

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