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Big Picture Snapshot 07/18 - Major Indexes & Sectors

 

 

Nasdaq Composite   ($COMPQ) BELOW 50 & 200dMA 
Russell 2000 Index ($RUT) BELOW 50 & 200dMA
S&P 500 Index ($SPX) BELOW 50 & 200dMA

                           
GOAL of this Analysis:
> Indices relevant to market climate are featured providing insight to
   mood, sentiment and overall prevailing direction.

> Identify the stage in which the Indices are trading.

The 4 Market stages are: Basing, Advancing, Topping & Declining
 
Current Market Stage:  DECLINING


Big Picture:
Major Indexes End Week BELOW 50 &200dMA
On Friday, major indexes opened lower and deteriorated to end near session lows.
Earninigs and weak consumer sentiment data contirbuted volatiliy on an options expiration date. 

Numerous sectors (see below) are BEARISH. Anticipate lower levels ahead... 


In all market climates, Selective Chartists maintains and constantly refreshes a watch list of securities that display strengthening indicators and positive developing chart patterns. It is important to maintain a list of securities that are displaying leadership qualities.

Stop Loss Protection should be used at ALL TIMES to minimize loss from initial purchase price as well as move stop limits up during advance to lock in gains (during pullbacks).

 

 
Disclaimer - Principal goal of this information:
Material is provided for EDUCATIONAL & EVALUATIVE purposes only and does not constitute a recommendation or endorsement to buy, sell or hold with respect to any security or investment.  Chart analysis is an interpretation and subjective process. There are no guarantees the stocks presented will perform in the manner of the interpretation as many factors can affect stock performance.





          Chart courtesy StockCharts.com   Composed by Selective Chartists





          Chart courtesy StockCharts.com   Composed by Selective Chartists





          Chart courtesy StockCharts.com   Composed by Selective Chartists


Disclosure: BIDU, SNDK