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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

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Saturday, August 19, 2017

Longer-Term Weakness Ahead for Equities?

Most Major U.S. Indices (with the exception of the Dow 30 and Dow Utilities) are now below their 50-day MA, as shown on the following Daily chartgrid.


The following tables (Source: www.barchart.com) depict where the percentages of stocks in those indices were trading above a variety of moving averages two weeks ago.




The next set of tables depict where their percentages are as of Friday's close.

You can see the dramatic shift from green to red, not only on the 50-day MA, but also the erosion beginning on the 100, 150 and 200-day MAs.




Even if we did see a "short-term Jackson Hole bounce" into next week, as I described here, it may be that, in the medium-to-longer term, the next overall prognosis for equities is further weakness ahead.

So, it may be prudent to track these percentages over the weeks to come, along with the SPX:VIX ratio mentioned in my post, to measure any further erosion and the velocity of such erosion.

It could be that we may not see any kind of meaningful and sustained buying enter the markets until most stocks are at, or below, the 200 MA.