Energy and Gold were the only positive areas this week with Consumer Staples sector down the most on the week followed by the Nasdaq 100 and the Technology sector - both of which are on the edge of tipping into Stage 4.

Stage Analysis Members Video covering - BTU Stage 2 Breakout Analysis and Targets. Group Focus on Coal, Defense, Cybersecurity. Major Indexes review: i.e. S&P 500, Nasdaq, Russell 2000 and more Market Breadth Update to Determine the Current Weight of Evidence

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

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%)...

20 year Nasdaq Composite chart with percentage of stocks above their 200 day MA, 150 day MA and 50 day MA underneath for comparison to past periods. Highlighted areas are when 200 day MA was below 30% level. Red line is current level in each.

$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.

US Total Percentage of Stocks Above their 50 Day, 150 Day and 200 Day Moving Averages Combined. Closed back above the 50 day MA

Nasdaq Percentage of Stocks Above their 200 day MA (Long Term) - 65.06. Bear Alert Status - a close below 64% will move it to Bear Confirmed Status for the first time since the March 2020 low

The Nasdaq 100, Nasdaq and S&P 500 are all currently forming Cup with Handle patterns on their daily charts, with lower volume on the down days in the handle area. So there is potential for a continuation attempt higher in the coming weeks. Although the US Election is a wild card and Earnings Season is upon us from this week. So remember to focus on the price action and volume of the individual stocks (especially leading stocks) and not on the news headlines or talking heads on the financial news channels.