The S&P 500 opened back above the 50 day MA today, but the early enthusiasm soon diminished, and it rolled over at the short term 21 day EMA and turned lower again. Closing the day back below the 50 day MA for a second day and also the -1x ATR(21 day) level...

The broad market came under more pressure today, but I thought it would be interesting to focus on some of the weekly charts of the mega cap stocks which are currently struggling in various Phases of Stage 3...

This weekends Stage Analysis Members Video features the Major Indexes – Nasdaq, S&P 500, Russell 2000, Sector Relative Strength, Market Breadth charts to determine the Weight of Evidence, Industry Group Relative Strength. A Group Focus on the Uranium Stocks and the US Stocks Watchlist in detail with marked up charts and explanations of the group themes and what I'm looking for in various stocks.

There were 44 stocks for the US stocks watchlist today. ASC, ACHC, GFI, LAC + 40 more...

Strong relative volume came into the Uranium stocks & ETFs today, with multiple stocks from the group testing the highs of their recent ranges, with closes near the highs of the day and the majority moving greater than 5% including the group ETFs. So there's potential for a new Stage 2 breakout "attempt". But as always – and especially in the current market environment – be on alert for signs of failure on any breakout attempt, as failed breakouts can quickly turn into an Upthrust...

This weeks Members Midweek Video focuses on some of the recent areas of weakness, like the Semiconductors groups, plus brief reviews of some of other featured groups in the last few months – as well as the regular midweek features on the indexes, short term market breadth charts and the watchlist stocks in focus.

The major US stock markets continued to pullback sharply today, with strong follow through on the downside in laggard groups, such as Semiconductors that I mentioned previously. Most of the indexes remain in the upper half of the recent trading range though, and are testing both their short and long term MAs, with closes below the 21 day EMA in the Nasdaq and Russell 2000...

Semiconductor group was hit again today with many stocks in the group dropping back below their 50 day MAs again. So the group is in danger of falling into Stage 4 if the weakness persists, as the weekly chart failed at the now declining 30 week MA last week and the relative strength versus the S&P 500 is making new lows ahead of the price action...

The laggard groups were in control again today with strong moves in the majority of the weak RS groups lead by the Communication Services, Consumer Discretionary and Technology sectors, which helped the Nasdaq Indexes to move back towards the top of the range...

In this weekends members video I discuss the Stan Weinstein Interview on Twitter Spaces, as well as the regular content of the Major Indexes, Sectors Relative Strength Tables & Charts, Industry Group RS Tables and Themes, Market Breadth: Weight of Evidence, 2x Weekly Volume Stocks and the US Watchlist Stocks in detail.