This week's US debt downgrade has coincided with recent weakness in stocks, but the charts signaled stocks were running out of steam and due for consolidation. 14-day RSI peaked in June, and July's price gain wasn't confirmed. Likewise, MACD stalled for the past 6 weeks. pic.twitter.com/NNbJMo37db — Gina Martin Adams (@GinaMartinAdams) August 4, 2023 Today’s […]
Chart of the Day – Thursday, June 22, 2023
Home builders and semiconductors both hitting new highs. This doesn’t happen in bear markets. These industries also are usually among the earliest signals of an emerging economic recovery from recession. pic.twitter.com/YaUrRozrVU — Gina Martin Adams (@GinaMartinAdams) June 22, 2023 Today’s Chart of the Day was shared by Gina Martin Adams (@GinaMartinAdams). These three industry groups […]
Chart of the Day – Friday, February 24th, 2023
The consensus bearish narrative toward equities seems overly confident. The S&P 500 may be retesting its breakout point rather than starting a new down leg. RSI and MACD lows from December are worth keeping an eye on. pic.twitter.com/mTywCPnyJG — Gina Martin Adams (@GinaMartinAdams) February 24, 2023 Today’s Chart of the Day was shared by Gina […]
Chart of the Day – Friday, February 18th, 2022
The share of stocks trading above their 200-day moving avg is near 50%, a level that has been make-or-break for the S&P 500 price trend in recent years. Breadth has rarely broken 50% for more than a few days without a significant correction emerging. SPX price & breadth in chart pic.twitter.com/0Nm0sPiga2 — Gina Martin Adams […]