INFOCUS 9-27-2023
INDEX.htm
DJIA At lower band. Completed H/S and below 200-dma, falling 65-dma.
Down volume has not peaked.
DIA Decline confirmed by declining Closing Power and veRy negative IP21
BONDS COLLAPSING - New yearly low. Heavy red Distribution by big money.
10-Year rates new high. Approaching 4.7%
COMPQX (NASDAQ) - Broke key support AND falling Closing Powe
QQQ - Testing key flat support. Flat support is risky.
SPY - Completed Head/Shoulders is bearish.
SOXL - At last support - an uptrendline. Falling Closing Power
NVDA - Trying to rally from key flat support
TECL - Falling Closing Power
Weakest are:
Bonds
Retail Stocks other than AMZN, WMT, COSTCO and Abercrombie,,,
Solar Power like SEDG
Still hold at support are big banks, of which JPM is strongest
Best Longs:
PST
Dollar versus Yen
Coal stocks - ARCH among Bullish MAXCPs
Also worth watching - Housing Stocks - Still Falling
WEAKEST |
|
Solar Energy |
Still Holding Up. Big Banks - JPM is strongest |
Best Longs |
Also worth watching - Housing Stocks - Still Falling