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

March 4, 2012

3-2-12 Market Commentary

Filed under: Market Commentary — dlpirl @ 3:38 pm

Subscriber email sent 3-4-12:

Market Breadth: With this fractional week’s market rise, our Bull/Bear Point and Figure Ratio fell from 3.38 to 2.73, remaining in solidly bullish territory. The total count of securities in bullish or bearish patterns decreased 17% to 1892. The count of bearish stocks decreased 2%, while the count of stocks in bullish patterns decreased by 21%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market maintaining its 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 the last ten weeks, losing 182 points. At +377, it has now broken below the January 2011 top.
In this week’s volume analysis the Russell 2000 ended in neither Accumulation nor Distribution mode. In the last two weeks it had two (2) Accumulation days and two (2) Distribution days. Of the other indexes, both the S&P 500 Deposit Receipts and the Diamonds Trust 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.)  Last week the Russell 2000 also ended the week in neither Accumulation nor Distribution mode.
Momentum: We continue to wait for the CCI(20) to drop back into the +/-50 range for a valid Zero Line Reject (ZLR) entry point.
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 an up trend fourteen weeks ago. The Daily CCI(20) began a Woodie’s up trend twelve weeks ago.
We continue to wait for the CCI(20) to drop back to the +/-50 range for a valid ZLR (Zero Line Reject) entry signal.
Industry Rotation the last two weeks: All of the top five industries are positive and all of the bottom five are negative. Bullish: Brokers (XBD) remains in the top five. Comp Tech (XCI) and S&P Retail (RLX) have entered the top five. Oil Services (OSX) has left the top five. REITs (DJR), Banks (BKX) and Internet IW (IIX) have left the bottom five.  Bearish: Computer Hardware (HWI), Networkers (NWX), and Semis PHLX (SOX) have entered the bottom five. Gold & Silver (XAU) has entered the top five.

–Donald Pirl www.s2pmarketsignal.com


S2P Market Signal Commentary may be freely forwarded and otherwise distributed providing content is unchanged and authorship acknowledged.
© 2012 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

February 26, 2012

2-4-12 Market Commentary

Filed under: Market Commentary — dlpirl @ 9:12 pm

Subscriber email sent 2-26-12:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio rose slightly from 3.33 to 3.38, advancing further into bullish territory. The total count of securities in bullish or bearish patterns increased 2% to 2272. The count of bearish stocks increased 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 maintaining its 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 second time in the last nine weeks, losing 75 points. At +558, it continues above the January 2011 top.
In this week’s volume analysis the Russell 2000 ended in neither Accumulation nor Distribution mode. In the last two weeks it had one (1) Accumulation day and three (3) Distribution days. Of the other indexes, both the S&P 500 Deposit Receipts and the Diamonds Trust 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.)  Last week the Russell 2000 also ended the week in neither Accumulation nor Distribution mode.
Momentum: We continue to wait for the CCI(20) to drop back into the +/-50 range for a valid Zero Line Reject (ZLR) entry point.
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 an up trend thirteen weeks ago. The Daily CCI(20) began a Woodie’s up trend eleven weeks ago.
We continue to wait for the CCI(20) to drop back to the +/-50 range for a valid ZLR (Zero Line Reject) entry signal.
Industry Rotation the last two weeks: All of the top five industries are positive and only two of the bottom five are negative. Bullish: Brokers (XBD) has entered the top five. Bearish: Computer Hardware (HWI), Networkers (NWX) and Comp Tech (XCI) have left the top five. Oil Services (OSX) has entered the top five. Gold & Silver (XAU) has left the bottom five. REITs (DJR) remains in the bottom five. Banks (BKX) adn Internet IW (IIX) have 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.
© 2012 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

February 18, 2012

2-17-12 Market Commentary

Filed under: Market Commentary — dlpirl @ 3:38 pm

Subscriber email sent 2-18-12:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio rose from 3.15 to 3.33, advancing further into bullish territory. The total count of securities in bullish or bearish patterns decreased 1% to 2238. The count of bearish stocks decreased 5%, while the count of stocks in bullish patterns increased by 1%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market maintaining its 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 first time in the last eight weeks, losing 15 points. At +633, it continues above the January 2011 top.
In this week’s volume analysis the Russell 2000 ended in neither Accumulation nor Distribution mode. In the last two weeks it had two (2) Accumulation days and four (4) Distribution days. Of the other indexes, both the S&P 500 Deposit Receipts and the Diamonds Trust 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.)  Last week the Russell 2000 also ended the week in neither Accumulation nor Distribution mode.
Momentum: We continue to wait for the CCI(20) to drop back into the +/-50 range for a valid Zero Line Reject (ZLR) entry point.
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 an up trend twelve weeks ago. The Daily CCI(20) began a Woodie’s up trend ten weeks ago.
We continue to wait for the CCI(20) to drop back to the +/-50 range for a valid ZLR (Zero Line Reject) entry signal.
Industry Rotation the last two weeks: All of the top five industries are positive and only three of the bottom five are negative. Bullish: Computer Hardware (HWI) and Networkers (NWX) remain in the top five. Comp Tech (XCI) has entered the top five. Oil Services (OSX) has left the top five. Gold & Silver (XAU) continues to lead the bottom five. Bearish: REITs (DJR) remains in the bottom five. Disk Drives (DDX) and Banks (BKX) have left the top five.  

–Donald Pirl www.s2pmarketsignal.com


S2P Market Signal Commentary may be freely forwarded and otherwise distributed providing content is unchanged and authorship acknowledged.
© 2012 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

February 11, 2012

2-10-12 Market Commentary

Filed under: Market Commentary — dlpirl @ 5:35 pm

Subscriber email sent 2-11-12:

Market Breadth: With this week’s flat market, our Bull/Bear Point and Figure Ratio rose from 3.06 to 3.15, advancing slightly further into bullish territory. The total count of securities in bullish or bearish patterns decreased 2% to 2252. The count of bearish stocks decreased 5%, 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 maintaining its 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 the last seven weeks, gaining 114 points. At +648, it continues above the January 2011 top.
In this week’s volume analysis the Russell 2000 ended in neither Accumulation nor Distribution mode. In the last two weeks it had four (4) Accumulation days and three (3) Distribution day. Of the other indexes, the S&P 500 Deposit Receipts ended in neither Accumulation nor Distribution mode while the Diamonds Trust 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.)  Last week the Russell 2000 ended the week in Accumulation mode.
Momentum: We continue to wait for the CCI(20) to drop back into the +/-50 range for a valid Zero Line Reject (ZLR) entry point.
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 an up trend eleven weeks ago. The Daily CCI(20) began a Woodie’s up trend nine weeks ago.
We continue to wait for the CCI(20) to drop back to the +/-50 range for a valid ZLR (Zero Line Reject) entry signal.
Industry Rotation the last two weeks: All of the top five industries are positive and only two of the bottom five are negative. Bullish: Disk Drives (DDX) remains in and now leads the top five. Computer Hardware (HWI) remains in the top five. Banks (BKX) and Networkers (NWX) have entered the top five. Gold & Silver (XAU) has entered and leads the bottom five. S&P Retail has left the bottom five. Bearish: Oil Services (OSX) remains in the top five. REITs (DJR)has entered the bottom five. Oil (XOI) has left 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.
© 2012 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

 

February 5, 2012

2-3-12 Market Commentary

Filed under: Market Commentary — dlpirl @ 2:09 pm

Subscriber email sent 2-5-12:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio climbed from 2.46 to 3.06, advancing further into bullish territory. The total count of securities in bullish or bearish patterns increased 9% to 2309. The count of bearish stocks decreased 7%, 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 advancing 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 the last six weeks, gaining 198 points. At +534, it is now above the January 2011 top.
In this week’s volume analysis the Russell 2000 ended in Accumulation mode. In the last two weeks it had six (6) Accumulation days and one (1) Distribution day. Of the other indexes, both the S&P 500 Deposit Receipts and the Diamonds Trust 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.)  Last week the Russell 2000 also ended the week in Accumulation mode.
Momentum: We continue to wait for the CCI(20) to drop back into the +/-50 range for a valid Zero Line Reject (ZLR) entry point.
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 an up trend ten weeks ago. The Daily CCI(20) began a Woodie’s up trend eight weeks ago.
We continue to wait for the CCI(20) to drop back to the +/-50 range for a valid ZLR (Zero Line Reject) entry signal.
Industry Rotation the last two weeks: All of the top five industries are positive and only one of the bottom five is negative. Bullish: Computer Hardware (HWI) remains in the top five. Oil (XOI) has entered the bottom five. Disk Drives (DDX) has entered the top five. Banks (BKX) have left the bottom five. Bearish: S&P Retail has entered the bottom five. Semis (SOX) has left the top five. Oil Services (OSX) has entered the top five.

–Donald Pirl www.s2pmarketsignal.com

S2P Market Signal Commentary may be freely forwarded and otherwise distributed providing content is unchanged and authorship acknowledged.
© 2012 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

 

January 29, 2012

1-27-12 Market Commentary

Filed under: Market Commentary — dlpirl @ 5:04 pm

Subscriber email sent 1-29-12:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio rose from 2.06 to 2.46, advancing further into bullish territory. The total count of securities in bullish or bearish patterns increased 2% to 2125. The count of bearish stocks decreased 10%, while the count of stocks in bullish patterns increased by 7%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market advancing 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 the last six weeks, gaining 231 points. At +334, it is now approaching NASI tops over the past two years.
In this week’s volume analysis the Russell 2000 ended in Accumulation mode. In the last two weeks it had six (6) Accumulation days and one (1) Distribution day. Of the other indexes, the S&P 500 Deposit Receipts ended the week in neither Accumulation nor Distribution mode while the Diamonds Trust 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.)  Last week the Russell 2000 also ended the week in Accumulation mode.
Momentum: We continue to wait for the CCI(20) to drop back into the +/-50 range for a valid Zero Line Reject (ZLR) entry point.
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 an up trend nine weeks ago. The Daily CCI(20) began a Woodie’s up trend seven weeks ago.
We continue to wait for the CCI(20) to drop back to the +/-50 range for a valid ZLR (Zero Line Reject) entry signal.
Industry Rotation the last two weeks: All of the top five industries are positive and all of the bottom five are negative. Bullish: Semis (SOX) remains in the top five. Computer Hardware (HWI) has entered the top five.  Bearish: Networkers (NWX) and Brokers (XBD) have left the top five. Banks (BKX) have entered the bottom five. Gold & Silver (XAU) have left 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.
© 2012 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

January 21, 2012

1-20-12 Market Commentary

Filed under: Market Commentary — dlpirl @ 2:08 pm

Subscriber email sent 1-21-12:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio rose from 1.63 to 2.06, advancing further into bullish territory. The total count of securities in bullish or bearish patterns increased 9% to 2090. The count of bearish stocks decreased 6%, while the count of stocks in bullish patterns increased by 18%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market advancing 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 the last five weeks, gaining 195 points. At +104, it continues above the November 2009 bottom, the February 2010 bottom, the June 2010 bottom, and the August 2011 bottom.
In this week’s volume analysis the Russell 2000 ended in Accumulation mode. In the last two weeks it had five (5) Accumulation days and one (1) Distribution day. Of the other indexes, the S&P 500 Deposit Receipts ended the week in Accumulation mode while the Diamonds Trust 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.)  Last week the Russell 2000 ended the week in Distribution mode.
Momentum: We continue to wait for the CCI(20) to drop back into the +/-50 range for a valid Zero Line Reject (ZLR) entry point.
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 an up trend eight weeks ago. The Daily CCI(20) began a Woodie’s up trend six weeks ago.
We continue to wait for the CCI(20) to drop back to the +/-50 range for a valid ZLR (Zero Line Reject) entry signal.
Industry Rotation the last two weeks: All of the top five industries are positive and four of the bottom five are negative. Bullish: Networkers (NWX) and Brokers (XBD) remain in the top five. Semis (SOX) has entered the top five. Gold & Silver (XAU) have left the top five and entered the bottom five.  Bearish: Banks (BKX) have left the top five.  

–Donald Pirl www.s2pmarketsignal.com


S2P Market Signal Commentary may be freely forwarded and otherwise distributed providing content is unchanged and authorship acknowledged.
© 2012 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

January 15, 2012

1-13-12 Market Commentary

Filed under: Market Commentary — dlpirl @ 8:48 am

Subscriber email sent 1-15-12:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio rose from 1.22 to 1.63, advancing further into bullish territory. The total count of securities in bullish or bearish patterns increased 7% to 1917. The count of bearish stocks decreased 9%, while the count of stocks in bullish patterns increased by 20%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market moving 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 fourth time in the last four weeks, gaining 217 points. At -91, it continues above the November 2009 bottom, the February 2010 bottom, the June 2010 bottom, and the August 2011 bottom.
In this week’s volume analysis the Russell 2000 ended in Distribution mode. In the last two weeks it had four (4) Accumulation days and three (3) Distribution days. Of the other indexes, both the S&P 500 Deposit Receipts and the Diamonds Trust ended the week 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.)  Last week the Russell 2000 ended the week in Accumulation mode.
Momentum: At Friday 12/30 close, the CCI(20) rose, but at a weaker angle up than the previous angle down. The CCI(20) then rose sharply on Tuesday, but we had previously rejected the trade. We continue to wait for the CCI(20) to drop back into the +/-50 range for a valid Zero Line Reject (ZLR) entry point.
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 an up trend seven weeks ago. The Daily CCI(20) began a Woodie’s up trend five weeks ago.
Three weeks ago, the CCI(20) rose forming a pivot within the +/-50 range, but the outward angle (up) was less than the inner angle (down) so we didn’t take take the trade. For teh previous two weeks and again this week the CCI(20) continued to rise but we had rejected the trade due to the slow initial momentum.
Industry Rotation the last two weeks: All of the top five industries are positive and four of the bottom five are negative. Bullish: Banks (BKX) remains in and now leads the top five. Networkers (NWX) and Brokers (XBD) have entered the top five.  Bearish: Gold & Silver (XAU) has entered the top five. Computer Tech (XCI) and Computer Hardware (HWI) have left the top five. 
Focus this week: There’s a lot of doom and gloom out there, but Jim Rogers is bullish on 2012. Watch Jim Rogers Economic Times of India Interview – 13 January 2012 in which Jim explains: "Commodities prices may have been in a short term down, but on long term commodity prices are still in the major uptrend and that is going to continue. They have postponed Armageddon, We discussed before here that 2013 and 2014 are what I am most worried about because this year everybody is trying to just get through the next election. There are 40 elections in 2012. Everybody is going to do their best to get us through the election. Watch out for 2013."

Bob Chapman of The International Forecaster is bullish on 2012 too, but for a different reason. Watch Bob on this Friday’s Alex Jones Show, Part 1 and Part2.

–Donald Pirl www.s2pmarketsignal.com

S2P Market Signal Commentary may be freely forwarded and otherwise distributed providing content is unchanged and authorship acknowledged.
© 2011 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

 

January 8, 2012

1-6-12 Market Commentary

Filed under: Market Commentary — dlpirl @ 8:15 pm

Subscriber email sent 1-8-12:

Market Breadth: With this week’s market rise, our Bull/Bear Point and Figure Ratio rose from 0.90 to 1.22, advancing into bullish territory. The total count of securities in bullish or bearish patterns increased 2% to 1791. The count of bearish stocks decreased 13%, while the count of stocks in bullish patterns increased by 18%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market moving 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 sixteenth time in the last twenty-seven weeks, gaining 113 points. At -308, it is now above the November 2009 bottom, as well as the February 2010 bottom, the June 2010 bottom, and the August 2011 bottom.
In this week’s volume analysis the Russell 2000 ended in Accumulation mode. In the last two weeks it had three (3) Accumulation days and two (2) Distribution days. Of the other indexes, the S&P 500 Deposit Receipts and ended the week in neither Accumulation nor Distribution mode while the Diamonds Trust ended the week 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.)  Last week the Russell 2000 ended the week in Distribution mode.
Momentum: After our exit at Friday 12/30 open, the CCI(20) rose, but at a weaker angle up than the angle down for our close. The CCI(20) rose sharply on Tuesday, but we had previously rejected the trade. We now wait for the CCI(20) to drop back into the +/-50 range for a valid Zero Line Reject (ZLR) entry point.
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 an up trend six weeks ago. The Daily CCI(20) began a Woodie’s up trend four weeks ago.
Two weeks ago, the CCI(20) rose forming a pivot within the +/-50 range, but the outward angle (up) was less than the inner angle (down) so we didn’t take take the trade. A week ago and again this week the CCI(20) continued to rise but we had rejected the trade due to the slow initial momentum.
 
Industry Rotation the last two weeks: All of the top five industries are positive and all of the bottom five are negative. Bullish: Banks (BKX) remains in the top five. Computer Tech (XCI) and Computer Hardware (HWI) have entered the top five. Oil (XOI) has left the top five. S&P Retail (RLX), Disk Drives (DDX), and Computer Hardware (HWI) have left the bottom five. Bearish: REITs (DJR) and Networkers (NWX) have 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.
© 2012 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

January 1, 2012

12-30-11 Market Commentary

Filed under: Market Commentary — dlpirl @ 4:31 pm

Subscriber email sent 1-1-12:

Market Breadth: With this week’s market decline, our Bull/Bear Point and Figure Ratio rose from 0.78 to 0.90, remaining in bearish territory. The total count of securities in bullish or bearish patterns increased 4% to 1761. The count of bearish stocks decreased 3%, while the count of stocks in bullish patterns increased by 12%. The Sand 2 Pirls P&F Market Breadth Summary Chart shows us a market continuing in 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) increased for the fifteenth time in the last twenty-six weeks, gaining 42 points. At -421, it remains below the November 2009 bottom, but is now above the February 2010 bottom, as well as the June 2010 bottom and the August 2011 bottom.
In this week’s volume analysis the Russell 2000 ended in Distribution mode. In the last two weeks it had two (2) Accumulation days and two (2) Distribution day. Of the other indexes, both the S&P 500 Deposit Receipts and the Diamonds Trust ended the week 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.)  Last week the Russell 2000 ended the week in neither Accumulation nor Distribution mode.
Momentum: At Tuesday 12/20 close we got a Zero Line Reject (ZLR) Long entry point for the Wednesday 12/21 open. Wednesday close the CCI(20) fell, but not below the ZLR pivot point, so we stayed in the trade and the CCI(20) rose for the remainder of that week. At Wednesday 12/28 close the CCI(20) dropped sharply giving us our exit point. The result of the trade was a gain of 6.56 points on the Nasdaq Composite Index or $0.08 per share of QQQ.
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 an up trend five weeks ago. The Daily CCI(20) began a Woodie’s up trend three weeks ago and has not yet had six (6) consecutive days below zero. to change the trend.
On Friday 12/2 the CCI(20) weekly gave a valid ZLR Long entry point for Monday 12/5 open. The CCI(20) rose last week, but fell this week, giving us an exit signal for Monday 12/19 open. The results of this trade was a loss of 102.4 points on the Nasdaq Composite of $2.40 per share of QQQ.
Last week the CCI(20) rose forming a pivot within the +/-50 range, but the outward angle (up) was less than the inner angle (down) so we didn’t take take the trade. This week the CCI(20) continued to rise slightly.
Industry Rotation the last two weeks: All of the top five industries are positive and three of the bottom five are negative. Bullish: Banks (BKX) remains in the top five. Computer Tech (XCI) has left the bottom five. Gold and Silver (XAU) remains in the bottom five. Bearish: REITs (DJR) has left the top five. Oil (XOI) has entered the top five. Disk Drives (DDX) and Computer Hardware (HWI) remain in the bottom five. S&P Retail (RLX) 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.
© 2011 Sand2Pirls, Inc. All rights reserved. [Terms and Conditions/Disclaimer ]

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