This post is a follow-on to our weekly Five Bull Market Barometers update, as there are specific risks to stocks worth highlighting as we head into July.
Five Bull Market Barometers (06-26-2020)
In early May we outlined the “Five Bull Market Barometers” we’re watching to identify the beginning of a new bull market in stocks.
If you haven’t read our initial post linked above, we’d encourage you to check it out so you understand what the rationale behind these five indicators is.
Now, let’s see where we ended this week.
US Stocks Fail At Major Resistance
We take a consistent intermarket approach to stocks. Not only do we analyze all the Stock indexes, both domestically and around the globe, but we also compare stocks to other asset classes. This is historically very helpful information to determine the direction of the primary trend for stocks.
Today, we’re taking a look at stocks running into major resistance relative to its alternatives. More specifically, stocks are failing relative to both Bonds and Gold.
As you can see in this chart, we saw significant support near this gray shaded area in late 2018 and then once again in August of last year. This “Support” finally gave way and broke in early March, almost 4 months ago. This former “Support” has now turned into “Resistance” throughout June: [Read more…]
Five Bull Market Barometers (06-19-2020)
In early May we outlined the “Five Bull Market Barometers” we’re watching to identify the beginning of a new bull market in stocks.
If you haven’t read our initial post linked above, we’d encourage you to check it out so you understand what the rationale behind these five indicators is.
Now, let’s see where we stand after another strong week in the market.
Retiring The Bull Market Checklist
From the desk of Steve Strazza @Sstrazza
In mid-April, we posted a list of 20 key chart levels we were monitoring in some of the most important assets around the world. We’ve used this as a risk-gauge to measure the internal strength or weakness of the market in the time since.
The list started at 60% bullish, never fell below 50%, and has been stuck at 90% with the same two bearish hold-outs for the past month now. The list has grown consistently more bullish since we began tracking it as more charts continued to break above our levels.
Since the end of May, 18 of the 20 items have been in bullish territory and many have run a good amount from our risk-levels. With the strongest stocks and indexes making new all-time highs and confirming this bullish outlook, prices have spoken and it’s time we retire our bull market checklist.
[Premium] Monthly Conference Call Video Recording June 2020
This is the video recording of the June 2020 Conference Call.
US Stocks Fail Retest This Week
Five Bull Market Barometers (06-12-2020)
In early May we outlined the “Five Bull Market Barometers” we’re watching to identify the beginning of a new bull market in stocks.
If you haven’t read our initial post linked above, we’d encourage you to check it out so you understand what the rationale behind these five indicators is.
Now that the market has pulled back from its overhead supply, let’s take a look at where these long-term indicators stand.
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