Today Carl looks at the 26 indexes, sectors and groups in a CandleGlance to see how the indexes stack up. It is clear that all of the indexes are as good as they can get. Carl warns that when things are as good as they can get, the only place left to go is down. Overbought conditions can persist, but it is certainly an attention flag.
Today Carl took us into the Semiconductor (SMH) industry group to discover how the group is weighted.
Carl also gives us his overview of the market in general and then covers the Magnificent Seven in the short and intermediate terms. Which ones are set up bullishly and which two are struggling?
Erin takes over and talks about sector rotation by going through the sector CandleGlance to see where aggressive and defensive sectors stand currently. There are clear winners and losers.
The pair finish the trading room by going through viewers symbol requests that includes looks at Palantir (PLTR) and Super Micro (SMCI).
01:22 DP Market Scoreboards
02:46 Semiconductor (SMH) Weighting
04:57 Market Overview including Dollar, Gold and Crude Oil among others
13:47 Magnificent Seven
17:31 Market As Good As It Gets
22:47 Sector Rotation
31:02 Symbol Requests
If you’d like to join us LIVE on Mondays at Noon ET, register here: https://zoom.us/webinar/register/WN_D6iAp-C1S6SebVpQIYcC6g#/registration
Try out any of our subscriptions for two week for FREE! The DP Alert is a “must-have”! Use coupon code: DPTRIAL2 at checkout here: https://www.decisionpoint.com/products.html
Introducing the new Scan Alert System!
Delivered to your email box at the end of the market day. You’ll get the results of our proprietary scans that Erin uses to pick her “Diamonds in the Rough” for the DecisionPoint Diamonds Report. Get all of the results and see which ones you like best! Only $29/month! Or, use our free trial to try it out for two weeks using coupon code: DPTRIAL2. Click HERE to subscribe NOW!
Learn more about DecisionPoint.com:
Watch the latest episode of the DecisionPointTrading Room on DP’s YouTube channel here!
Try us out for two weeks with a trial subscription!
Use coupon code: DPTRIAL2 Subscribe HERE!
Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin
(c) Copyright 2024 DecisionPoint.com
Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.
Helpful DecisionPoint Links:
Price Momentum Oscillator (PMO)
