Detailed Midweek video for Stage Analysis Members of the US markets, short term market breadth and the US watchlist stocks

This weekends watchlist is dominated by a few group themes with around third of the stocks from the precious metals groups as spot gold is approaching its Stage 2 breakout level once more...

Lower highs again today in the indexes as the bounce fades into the end of the day and the major indexes continue to make lower lows with the S&P 500 breaking the December pivot low...

NYSE Bullish Percent Index at 50.18%, which means half of NYSE stocks are currently on point and figure buy signals and so in the Stage 3 or Stage 1 zone currently (i.e. between 40% and 60%)...

$IWM Russell 2000 Small Caps index is following the $IWO Small Cap growth index into a potential Stage 4 decline, with a breakdown attempt today.

Gold continues to build a Stage 1 base, which it's been in for around 36 weeks so far. Relative strength versus the S&P 500 is still weak though and near the lows, but it is starting to approach the zero line (52 week RS MA)...

LCID has been developing a Stage 1 base for the last six months and this week broke out into early Stage 2, which is known as Stage 2A, on strong relative volume of more than 4.8x the weekly average, with relative strength versus the S&P 500 also breaking out and above a rising zero line (52 week RS MA)...

OPEN has been basing for the last seven months in what is know as the Institutional Due Diligence Phase (I-DDP) following a strong initial IPO Advance Phase (IPO-AP) from September 2020 to February 2021 of over +200%...

ONDS (Ondas Holdings) made an early Stage 2A breakout attempt this week from its developing Stage 1 base on strong relative volume, but ended the week under the resistance level from the June high and prior higher range forming an upthrust and remains in Stage 1. It did however close the week well above numerous recent near term swing highs from within the range and formed a Significant Bar on the 28th September which is visible on the daily chart.

SNAP make a Stage 2 continuation breakout to new highs this week following a 9 week consolidation period from the major Stage 2 breakout attempt back in July, where it gapped up from the major base structure on significant volume following its earnings announcement.