Market Snapshot 15-10-2015

Use the following table for a quick measure of the markets over a variety of time-frames.

Click the image for a better view…

15-10-2015 11-45-11

 

The long-term trend of both the SPY and IWM remains bearish.

Market breadth also remains weak with only 35% of stocks on the Russell3000 trading above their 200 day MA.

The most over-bought ETF is currently GLD. Expect a fall.

The most over-sold ETF is currently UUP. Expect a rally.

The highest energy reading can be found in IBB. The likelihood is that IBB will make a strong move within the next few days/weeks.

If we run the same analysis on the major equity market sectors, we can see that that 6 out of 10 are outperforming the SPY (-6%) over the past quarter.

The strongest sector being utilities and the weakest sector being healthcare.

 

majorsectors

 

We also see that XLP is found in the “PRSV” column. This indicates that the consumer staples sector has a positive volume profile and is showing relative strength against the SPY.

If analysing the individual stocks from the sector, we find that OME has produced a volume profile/relative strength buy signal.

Disclosure: I am long OME

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