SMALL-CAPS SURGE TO KEEP THE FLAG ALIVE -- S&P 500 AND NASDAQ 100 LEAD HIGH-LOW INDICATORS -- HINDENBURG OMEN TRIGGERS -- FINANCE, HEALTHCARE AND UTILITIES LEAD SECTOR HIGH-LOW PERCENT -- THREE KEY INDUSTRY GROUP ETFS MAKING NEW HIGHS
SMALL-CAPS SURGE TO KEEP THE FLAG ALIVE... Link for today's Webinar video. The brief commentary and charts are from today's webinar. Chart 1 shows the S&P 500 bouncing off its first support zone today. Chart 2 shows the S&P MidCap 400 consolidating near its high. Chart 3 shows the S&P Small-Cap 600 bouncing off flag support and challenging flag resistance, a break of which would be bullish.
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Chart 1
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Chart 2
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Chart 3
S&P 500 AND NASDAQ 100 LEAD HIGH-LOW INDICATORS... Chart 4 shows High-Low Percent for the S&P 1500 and four other indices. The market turned bullish when High-Low Percent moved above 5% on October 22nd (green line) and will remain bullish until a cross below -5%. High-Low Percent for the S&P Small-Cap 600 is the weakest of the group and actually dipped into negative territory in early December. This early warning indicator would not, however, turn bearish until a move below -5%. It may be the weakest of the group, but it is not out right bearish.
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Chart 4
HINDENBURG OMEN TRIGGERS... The Hindenburg Omen triggered on December 2nd as new lows surged on the NYSE. Chart 5 shows the requirements and the signals (blue dotted lines). This signal is hit and miss though. Chart 6 shows the prior four signals with only one generating a decent omen. The omen triggered because stock many stocks in the energy sector are hitting new lows.
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Chart 5
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Chart 6
FINANCE, HEALTHCARE AND UTILITIES LEAD SECTOR HIGH-LOW PERCENT ... Chart 7 shows High-Low Percent for the nine sectors and these indicators are ranked by their High-Low Percent value. The Finance SPDR (XLF), HealthCare SPDR (XLV) and Utilities SPDR (XLU) are leading with High-Low Percent values above +30%. The Energy SPDR (XLE) turned bearish in early September when High-Low Percent moved below -5% and will remain bearish until a move above +5%, which is going to take a long time. Note that this chart was created with a StockCharts Pro Account, which allows for ten symbols per chart.
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Chart 7
THREE KEY INDUSTRY GROUP ETFS MAKING NEW HIGHS... The stock market cannot be in that bad of shape if the Retail SPDR (XRT), Broker-Dealer iShares (IAI) and Semiconductor SPDR (XSD) scored 52-week highs recently.
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Chart 8
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Chart 9
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Chart 10
FOUR STOCKS WITH BULLISH CHARTS...
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Chart 11
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Chart 12
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Chart 13
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Chart 14
LONG-TERM TARGETS FOR EURO AND OIL...
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Chart 15
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Chart 16
GOLD ETF CHALLENGES FIRST RESISTANCE...
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Chart 17
10-YR AND 5-YR YIELDS DIVERGE...
