Weekend Review and Watchlist

Overview

Last week was a whole lot of noise for very little progress in either direction. Longer-term the uptrend in equities remains intact, but it's clearly mixed in the short-term for specific indices and sectors.

The S&P improved modestly on the week, while the NASDAQ made it to new highs as technology, and semiconductors in particular, led the way.

.

By contrast, the Dow Transports followed through to the downside and now sits at 10-week lows. The Russell along with midcaps in general rebounded.

.

Breadth, via the NYSE Cumulative advance/decline also improved, reclaiming ground above its MAs.

.

Sector Analysis

Technology ($XLK) is the clear Sector SPDR leader, making new highs, fueled by the strength in semiconductors ($SMH).

.

Then comes Consumer Discretionary, Materials, and Industrials, which are off their highs but all still above their 20 EMA. They're followed by Financials, Healthcare, Staples, and Utilities which have all cooled off after recent gains.

At the bottom we have Real Estate, and Energy, which have turned negative on an intermediate-term basis, and are below their 20, 50, and 200-day MAs.

.

Alpha Capture Portfolio

A quiet week for our model portfolio edging +0.3% vs +0.2% for the S&P. We have one exit this weekend and one new entry signal that will keep us at 7 names with total open risk of around 4%, and over 45% in cash.

.

Watchlist

Tech, along with healthcare, and consumer-related sectors dominate the list this week. Some industrials and materials remain, but financials have completely faded from view.

Here's a sample from the full list of 28 names:-

$GD

.

$RPM

.

$IMMU

.

$INFI

.

$VEEV

.

$LRCX

.

$AEIS

.

$CENT

.

$WYNN

.

Read More
Comments

Weekend Review and Watchlist

Overview

Equity indices are just shy of their highs, but breadth has deteriorated in the last week or so, with large caps significantly outperforming small caps, and leadership being concentrated in fewer names. While the indices appear close to their ...

Read More
Comments

Weekend Review and Watchlist

Overview

The major indices all made new highs this week, with the S&P and NASDAQ recording their sixth straight high on a weekly close basis, along with the NYSE Composite and MidCap Index.

.

I know there have been a slew ...

Read More
Comments

Weekend Review and Watchlist

Overview

Equity indices climbed to fresh all time highs, driven by a very different mix of sectors compared to previous weeks, with the recent laggards of Utilities, Healthcare, Staples, and Real Estate leading the advance. Breadth remains strong, and some ...

Read More
Comments

Weekend Review and Watchlist

Overview

Not much of a change this week. The Dow, S&P, NASDAQ all closed at all time highs on both a daily and weekly close basis. Breadth remains supportive, just below its highs. Bullish sentiment is elevated in institutional surveys ...

Read More
Comments

Weekend Review and Watchlist

Overview

The S&P, NASDAQ, Dow, NYSE Composite, and Russell Midcap, all closed at all time highs on both a daily and weekly close basis. Breadth also made new highs, and bullish sentiment remains elevated.

Here's the 'Correction Roadmap' chart ...

Read More
Comments

Weekend Review and Watchlist

Overview

The major indices started poorly but recovered steadily during the week, finishing very strongly Friday with the S&P and NASDAQ recording fresh highs on a weekly close basis, along with the NYSE Composite, and Midcap Index. Breadth remains supportive ...

Read More
Comments

Weekend Review and Watchlist

Overview

The S&P 500, NASDAQ, Dow Jones Industrials, NYSE Composite, Dow Transports, and Russell MidCap all closed at all time highs on a weekly basis. Breadth remains strong, and bullish sentiment is below its historical average.

.

Sector Analysis

There's ...

Read More
Comments

Weekend Review and Watchlist

Overview

The market is going nowhere, and that's a good thing. Well, the next best thing to going up anyway. Equities continue to consolidate prior gains. The major indices were mixed, transports improved, small caps were weaker with the ...

Read More
Comments

Weekend Review and Watchlist

Overview

Not much new this week. After a brief period of weakness equity markets recovered off their lows to finish at or near their highs.

The S&P finished near the top of its range of the last 5 days:-

.

And ...

Read More
Comments

Weekend Review and Watchlist

Overview

The S&P 500 and NASDAQ ended the week at all time highs on both a daily and weekly close basis. The Dow also closed at an all time high on a weekly basis, but finished just shy of the ...

Read More
Comments

Weekend Review and Watchlist

Overview

2016 ended with a mild pullback on the week, with the S&P finishing -1.1% but still up a healthy 9.5% on the year. Bigger picture the uptrend is very much intact, and breadth remains supportive.

Here's ...

Read More
Comments