From DWA:
Observations:
Equities ended higher after another busy week of earnings. The Dow, S&P 500, and Nasdaq gained 2%, 2.6%, and 3.3%, respectively, and returned to Point & Figure buy signals.This also led to several constructive moves from our technical indicators. The Positive Trend and Ten Week for the S&P 500 each reversed up into Xs to signal increased stock participation.Furthermore, the NYSE High Low reversed into X’s after reaching 10% or lower for a second consecutive time - an occurrence that has only happened seven other times since 1980.Although notable outliers are present, historically, this has been a strong signal for markets. In fact, the S&P 500 never posted a loss six- and twelve-months after.Two macro things to watch this week would be Treasuries and the US Dollar. TNX completed a bearish triangle on Friday and the US Dollar is exhaling; each now tests key support levels.
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Observations:
• Equities ended higher after another busy week of earnings. The
Dow, S&P 500, and Nasdaq gained 2%, 2.6%, and 3.3%,
respectively, and returned to Point & Figure buy signals.
This also led to several constructive moves from our technical
indicators. The Positive Trend and Ten Week for the S&P 500
each reversed up into Xs to signal increased stock participation.
Furthermore, the NYSE High Low reversed into X's after reaching
10% or lower for a second consecutive time - an occurrence that
has only happened seven other times since 1980.
Although notable outliers are present, historically, this has been a
strong signal for markets. In fact, the S&P 500 never posted a
loss six- and twelve-months after.
Two macro things to watch this week would be Treasuries and
the US Dollar. TNX completed a bearish triangle on Friday and
the US Dollar is exhaling; each now tests key support levels.
Observations:
Equities ended higher after another busy week of earnings. The Dow, S&P 500, and Nasdaq gained 2%, 2.6%, and 3.3%, respectively, and returned to Point & Figure buy signals.This also led to several constructive moves from our technical indicators. The Positive Trend and Ten Week for the S&P 500 each reversed up into Xs to signal increased stock participation.Furthermore, the NYSE High Low reversed into X’s after reaching 10% or lower for a second consecutive time - an occurrence that has only happened seven other times since 1980.Although notable outliers are present, historically, this has been a strong signal for markets. In fact, the S&P 500 never posted a loss six- and twelve-months after.Two macro things to watch this week would be Treasuries and the US Dollar. TNX completed a bearish triangle on Friday and the US Dollar is exhaling; each now tests key support levels.
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