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Stock Market Update and US Stocks Watchlist – 1 July 2022

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The S&P 500 percentage of stocks above their 20 day exponential moving averages closed the week at 42.40% with an attempt to make a high low after reaching the most extreme reading since March 2020 earlier in June. So while the indexes themselves continue to make lower highs and lower lows in a weekly Stage 4 downtrend. The short term breadth via the percentage of stocks is showing some potential signs of improvement under the surface with more than 1/3 of stocks back above their short term MAs than they were a few weeks ago, and this behaviour can also be seen across the other major markets.

I'll discuss this in more detail in the Stage Analysis Weekend Video, which is coming up a little bit later today.

US Stocks Watchlist – 1 July 2022

There were 30 stocks for the US stocks watchlist today

ALKT, CELH, GTLB, SEMR + 26 more...

The Software group (IPO-type stocks) continues to be the major theme since the June low.

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Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.