[badcharts]

ENV worth a look.

Hi Pete!

Good call! Looks promising...



I'll do a podcast on that one tonite. Will be released tommorow 9 EST.

Regards,

Patrick

Thanks.  Odd thing, I note more of a volume spike on my data.

Thanks for the very complementary shout out.  I note the difference in volume now, you were showing the weekly volume, with only one day of the week's data.  I note EVT dropped down to the breakout today, again on high volume.  I wonder if that is a shakeout or the fact that we've, in my opinion at least, not got the full breadth behind us right now?

Hi Pete!

You're welcome. I had forgotten all the tools Stan mentionned in his book.  

I added a playlist where I'll do market review (index => sector => industry) to cover the Forest to trees approach.  I'll now do that filter before doing my daily individual stock podcast analysis.. to only focus on the strongest of the strongest... (or the weakest of the weakest)!

https://www.youtube.com/playlist?list=PL...2hpd5sobR4

Highlights of my first podcast for US & Can markets review:

1- Nasdaq Composite still in Stage 2, outperforming S&P 500,  especially the Tech sector..
2- TSX venture in Stage 4, underperforming the S&P 500

My take is you can still try to find Stage 2 for the Nasdaq, and find Stage 4 for the TSX venture.

The other NYSE and TSX are Stage 3, fighting to keep going in Stage 2... not the strongest of places to be in. 

Now, specific for ENV, I have it listed in NYSE, in Technology Sector then in Software Industry (or sub-sector if you prefer):

   

Technology Sector still in uptrend...

   

Software Industry still in uptrend, though not as pretty...

   

Now, another tool I forgot about, the NYSE AD line + MI (momentum index) or market breadth!

That is my variant, comparing to S&P 500, instead of DJI as Stan did. Also using monthly candles and 30 SMA... to try and reduce some noise below zero line...

   

My thoughts:

1- Negative divergence
2- Heading/testing zero line
3- Stan says 5-10 months the AD line will reach high before DJI does...

So indeed, for ENV all looks good, except the market breadth, not sure what to make of it yet.. looks like an early warning sign. If the warning signs add up.. might be a time to think bear market (for US). I would need a top formation to breakdown on monthly and weekly chart to confirm that...

Regards,

Patrick