The base structures which began to develop with the local Selling Climax (SC) on the 24th January continues to mature, and last weeks potential Change of Behaviour held reasonably well on the first day of testing by the large operators today with the S&P 500 holding above the year to date VWAP level and the Nasdaq 100 holding the VPOC of the range, but remaining under its year to date VWAP level. Hence, the S&P 500 continues to show more relative strength than the Nasdaq. But the behaviour in each remains similar.

Stage Analysis Members Video covering the Major Indexes (i.e. S&P 500, Nasdaq Composite, Russell 2000 and the VIX etc), Market Breadth charts to determine the Weight of Evidence, Industry Group Relative Strength Tables and the Groups in focus this week. Plus the US Stocks Watchlist.

For the watchlist from the weekend scans...

Custom Percentage of Stocks Above Their 50 Day, 150 Day & 200 Day Moving Averages Combined Market Breadth Charts for the Overall US Market, NYSE and Nasdaq for Market Timing and Strategy.

The purpose of the RS tables is to track the short, medium and long term RS changes of the individual groups to find the new leadership earlier than the crowd...

There were 30 stocks for the US stocks watchlist today. Here's a small sample from the list: TSLA, MOS, DE, CIVI, + 26 more...

Members midweek video covering the market indexes, market breadth and US watchlist stocks in detail.

For the watchlist from Wednesdays scans...

There were 12 stocks for the US stocks watchlist today. Here's a small sample from the list: TMST, ATSG, JNPR, + 9 more...

I talked about the Major Indexes Attempting to Breakdown into Stage 4 in a previous post. Today we saw some further weakness in the market, such as the Nasdaq 100 (attached) as the recent leading groups that had been running strongly in Stage 2, started to unwind, following short term climatic action in a number of areas such as Oil, Commodities and Precious Metals last week.