(This post was last modified: 2023-01-13, 01:38 AM by pcabc.)
RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis
(2023-01-12, 08:51 PM)pcabc Wrote: Interesting strengthening
Have we finally hit the bottom? My sector overviews are a lot more positive than they were a short while back:
The S&P500 is now above a rising 150 day EMA [1, light blue moving average. The 50 day SMA is also above the 150 day SMA]. You need to zoom in, not visible on this chart but would be if plotted larger:
Leading sectors look quite strong. Industrials and Finacials seem to be near completing inverted head and shoulder patterns:
We seem to be looking at a stronger technical position in general. Slightly wary that it might be a bulltrap. But the fact that the 150 day SMA has levelled off is encouraging.
Looking on Youtube on Stockcharts for example today with Martin Pring, was not optimistic.