BlueWolf’s Weekly Market Sentiment (New and Improved with Better Flavor!)

[BlueWolf]

Market sentiment for week ending April 2, 2021

Market sentiment for week ending April 2, 2021

Short Term Bias: Bullish
Long Term Bias: Bullish (slightly)

I have included annotated daily charts for the NASDAQ and Dow. The S&P is similar enough to the Dow that I did not feel the need to include a separate chart.

Divergence is still the name of the game. The Dow and S&P both had good weeks, finishing up, week-over-week, while the NASDAQ finished down. Both the S&P and the Dow remain well within their uptrending regression channels with room to spare before head butting the upper bounds. Although the NASDAQ finished down, it ended the week on an up note and looks to be forming an ascending triangle. For these reason, my short term bias is bullish. For the longer, the divergence continues to trouble me. Whereas the Dow and S&P are showing good long term strength, the NASDAQ continues to struggle and has given up ground it just does not seem able to gain back. This prevents me from giving a wholehearted thumbs up for the long term, but there is enough bullishness for me to change my long term bias to slight bullishness overall.

Annotated Daily Chart for the NASDAQ:
https://www.dropbox.com/s/ux80nywfc1...02021.jpg?dl=0

Annotated Daily Chart for the Dow:
https://www.dropbox.com/s/6735nh27fe...02021.jpg?dl=0

Here are the stocks, including a few dead cat bounce possibilities, that I will be watching to start the week:
Day Trade and Swing Trade Long Candidates:
BJ, CBD, DISCA*, EQIX, FSLR, GSX*, IQ*, RES, TER, VIAC*
Day Trade and Swing Trade Short Candidates:
SAVA
Buy and Hold Candidates:
STAA
Interesting Recent IPOs:
(none)

*-Dead cat bounce candidates

Good luck with your trading and investing.

[BlueWolf]

Market sentiment for week ending April 9, 2021

Market sentiment for week ending April 9, 2021

Short Term Bias: Bullish
Long Term Bias: Bullish

I have included annotated daily charts for the NASDAQ, Dow, and S&P because all three indices are acting slightly differently.

Divergence remains the name of the game, although all three indices are now looking pretty bullish. This week the NASDAQ and the S&P both had strong weeks, finishing up, week-over-week, with the S&P making a new high. The Dow finished down, week-over-week, but only slightly and has formed a little base at its high, looking poised to move higher. The Dow and S&P remain bullish, and now the NASDAQ, which has formed an ascending triangle, is looking pretty bullish itself. For these reason, both my short term and long term bias is bullish.

Annotated Daily Chart for the NASDAQ:
https://www.dropbox.com/s/uvoge3u5eb...02021.jpg?dl=0

Annotated Daily Chart for the Dow:
https://www.dropbox.com/s/1e9gdgr5vv...02021.jpg?dl=0

Annotated Daily Chart for the S&P:
https://www.dropbox.com/s/ewcmnvpqw8...02021.jpg?dl=0

Here are the stocks I will be watching to start the week:
Day Trade and Swing Trade Long Candidates:
BNTC, MASI, NOW, NVDA, RES, TSM, ZEN, ZNGA
Day Trade and Swing Trade Short Candidates:
(none)
Buy and Hold Candidates:
CRM, MDB, SNOW
Interesting Recent IPOs:
(none)

Good luck with your trading and investing.

[BlueWolf]

No Market sentiment this week. Got busy with a project this weekend.

[BlueWolf]

Market sentiment for week ending April 16, 2021

Market sentiment for week ending April 16, 2021

Short Term Bias: Bullish
Long Term Bias: Bullish

I have included annotated daily charts for the NASDAQ and Dow. The S&P is sort of a hybrid of the NASDAQ and Dow and I have not included a separate chart for it.

Well, the divergence finally seems over as all three indices are in clear up trends. Last week was a strong one as all three indices finished higher, week over week. The NASDAQ is building a nice little base at the high, from which it appears ready to assault it’s all-time high, the only one of the three indices that has not made an all-time high recently. For this reason my long term bias is still bullish. While none of the indices closed the week with a bang, all three seem positioned to move higher, closing in the upper region of their regression channels. For this reason, my short term bias is bullish again.

Annotated Daily Chart for the NASDAQ:

https://www.dropbox.com/s/ghugpfonxxa3re5/NASDAQ%20Apr%2018%2C%202021.jpg?dl=0

Annotated Daily Chart for the Dow:
https://www.dropbox.com/s/g7mitrfgvo...02021.jpg?dl=0

Here are the stocks I will be watching to start the week:
Day Trade and Swing Trade Long Candidates:
BG, CRWD, CVAC, GRBK
Day Trade and Swing Trade Short Candidates:
CPE, LSPD, PRCH, UPST
Buy and Hold Candidates:
CRM, MDB
Interesting Recent IPOs:
(none)

Good luck with your trading and investing.

[BlueWolf]

Market sentiment for week ending April 30, 2021

Market sentiment for week ending April 30, 2021

Short Term Bias: Bullish
Long Term Bias: Bullish

I have included annotated daily charts for the NASDAQ and Dow. The S&P is very similar to the other indices and I have not included a separate chart for it.

The three indices are aligned once again, although the Dow and S&P are showing signs of being slightly stronger as they make new highs. The NASDAQ has still not challenged its February high. All three indices seem to be in a consolidation mode as their net movement over the last two weeks+ has been flat. The indices are forming bases at their highs and it looks likely that they will move higher from here. For these reasons my short and long term bias is bullish.

Annotated Daily Chart for the NASDAQ:
https://www.dropbox.com/s/8zkd7o40l1...02021.jpg?dl=0

Annotated Daily Chart for the Dow:
https://www.dropbox.com/s/0ophcjgqvw...02021.jpg?dl=0

Here are the stocks I will be watching to start the week:
Day Trade and Swing Trade Long Candidates:
ARVL, BG, BILI, CVAC, ZIM
Day Trade and Swing Trade Short Candidates:
CXW, EOLS, WWE
Buy and Hold Candidates:
(none)
Interesting Recent IPOs:
(none)

Good luck with your trading and investing.

[BlueWolf]

Market sentiment for week ending May 7, 2021

Market sentiment for week ending May 7, 2021

Short Term Bias: Neutral
Long Term Bias: Bullish

I have included annotated daily charts for the NASDAQ and Dow. The S&P is very similar to the Dow and so I have not included a separate chart for it.

Despite making a new high, the NASDAQ was down, week-over-week, and finished the week poorly with a pronounced topping tail and a weak finish. The S&P and Dow continue to consolidate and do not necessarily look weak as this consolidation is near their highs. The longer they stay in this consolidation pattern, however, the higher the risk that the indices will correct. For this reason, my near term bias is neutral, maybe even slightly bearish. Long term, all three indices remain well within their uptrending regression channels, so my long term bias remains bullish.

Annotated Daily Chart for the NASDAQ:
https://www.dropbox.com/s/3f79yhqbmx...02021.jpg?dl=0

Annotated Daily Chart for the Dow:
https://www.dropbox.com/s/u2fav6qh5z...02021.jpg?dl=0

Here are the stocks I will be watching to start the week:
Day Trade and Swing Trade Long Candidates:
TBA, VXRT, ZIM
Day Trade and Swing Trade Short Candidates:
AMKR, EOLS, LITE, SBSW, SI, TWTR
Buy and Hold Candidates:
(none)
Interesting Recent IPOs:
(none)

Good luck with your trading and investing.

[BlueWolf]

Market sentiment for week ending May 14, 2021

Market sentiment for week ending May 14, 2021

Short Term Bias: Neutral
Long Term Bias: Neutral

I have included annotated daily charts for the NASDAQ and Dow. The S&P is somewhat similar to the Dow and so I have not included a separate chart for it.

Well, the NASDAQ pitched a fit this week and headed for the exits, finishing significantly down week-over-week. It even close on a weak note after attempting a little bit of a rally on Friday. In contrast, the Dow remains strong, breaking out of its consolidation and finishing higher week-over-week, making new highs in the process. This divergence puzzles me a little, but leaves me in a neutral state for both the short and long term. I don’t believe the market as a whole can continue to prosper while one index shows weakness and another shows strength. For the long term, in particular, for me to believe that the overall market is bullish, I will need to see some signs of life in the NASDAQ. Right now, all I see are strong downdrafts and tepid rallies.

Annotated Daily Chart for the NASDAQ:
https://www.dropbox.com/s/ydqdnzivjp...02021.jpg?dl=0

Annotated Daily Chart for the Dow:
https://www.dropbox.com/s/aadyhojscg...02021.jpg?dl=0

Here are the stocks I will be watching to start the week:
Day Trade and Swing Trade Long Candidates:
AXL, CARG, OIS, RES, VRAY, ZIM
Day Trade and Swing Trade Short Candidates:
CLNE, FUTU, SHAK, SI
Buy and Hold Candidates:
(none)
Interesting Recent IPOs:
(none)

Good luck with your trading and investing.

[BlueWolf]

Market sentiment for week ending May 21, 2021

Market sentiment for week ending May 21, 2021

Short Term Bias: Neutral
Long Term Bias: Neutral

I have included annotated daily charts for the NASDAQ and Dow. The S&P is somewhat similar to the NASDAQ and so I have not included a separate chart for it.

It was another down week with the downdraft affecting all three indices this time. The NASDAQ, Dow, and S&P all finished down week-over-week, although we did see a decent bounce on Thursday and Friday. What is particularly concerning is the extreme volatility of the NASDAQ. The tech sector in general and growth stocks in particular have been clobbered so far this year. With inflation fears gaining a lot of momentum, it is unclear when a recovery might occur. While the Dow remains in an uptrend despite it’s pullback this week, it status of the NASDAQ and S&P remain a little less clear. While of these indices broke their existing regression channels, technically they formed another higher pivot low which implies that a broader uptrend is still in effect. The volatility, however, is a point of concern. This leaves me again with a neutral bias for both the short and long term.

Annotated Daily Chart for the NASDAQ:
https://www.dropbox.com/s/3fzr1yuvhn...02021.jpg?dl=0

Annotated Daily Chart for the Dow:
https://www.dropbox.com/s/7fttbloe4m...02021.jpg?dl=0

I found a few long setups that I liked this weekend, but in terms of short setups, every one I found that I liked was on my brokers Hard-To-Borrow list. I therefore go into the week with a small set of long setups only. Here are the stocks I will be watching to start the week:
Day Trade and Swing Trade Long Candidates:
CARG, GOL, SABR, TEN
Day Trade and Swing Trade Short Candidates:
(none)
Buy and Hold Candidates:
(none)
Interesting Recent IPOs:
(none)

Good luck with your trading and investing.

[BlueWolf]

Market sentiment for week ending May 28, 2021

Market sentiment for week ending May 28, 2021

Short Term Bias: Bearish
Long Term Bias: Bearish

I have included annotated daily charts for the NASDAQ and Dow. The S&P is somewhat similar to the NASDAQ and so I have not included a separate chart for it.

All three indices finished lower week-over-week, although only modestly. Although you could make a case that all three indices are still technically in an uptrend, there are reasons to be concerned about their future direction. Of greatest concern is the bearish consolidation of all three indices at their recent lows. Pronounced topping tails on the Dow and S&P, and a dark cloud cover on the NASDAQ also add a bearish flavor to the market. My instincts tell me that the markets may be getting ready for another leg down. If you are in buy and hold long positions it could get brutal. I hope I’m wrong, but the signs are such that both my short and long term bias has switched to bearish.

Annotated Daily Chart for the NASDAQ:
https://www.dropbox.com/s/2vg117h7b6...02021.jpg?dl=0

Annotated Daily Chart for the Dow:
https://www.dropbox.com/s/jncg4fl6uh...02021.jpg?dl=0

My scans turned up scan good setups, but here are the stocks I will be watching to start the week:
Day Trade and Swing Trade Long Candidates:
AXL, TEN, VRAY
Day Trade and Swing Trade Short Candidates:
BTU, GOL
Buy and Hold Candidates:
(none)
Interesting Recent IPOs:
(none)

Good luck with your trading and investing.

[BlueWolf]

No update this week. Check back next week.

[BlueWolf]

Market sentiment for week ending June 11, 2021

Market sentiment for week ending June 11, 2021

Short Term Bias: Neutral
Long Term Bias: Neutral (Slightly bearish)

I have included annotated daily charts for the NASDAQ and Dow. The S&P is somewhat similar to the Dow and so I have not included a separate chart for it.

Although all three indices finished slightly higher week-over-week, they are basically in consolidation modes. The Dow is precariously basing right at the bottom of its regression channel and looks poised to break down, but the NASDAQ is basing slightly higher. I’d say the odds are about 50/50 that the indices could break down from their base versus breaking out to the upside, with maybe a slight tilt to the breaking down in my way of seeing things. I therefore have both a neutral short and long term bias with perhaps a slight inclination to the bearish side for the longer term. The next week or two should decide the outcome.

Annotated Daily Chart for the NASDAQ:
https://www.dropbox.com/s/n6gbmrrhbg...02021.jpg?dl=0

Annotated Daily Chart for the Dow:
https://www.dropbox.com/s/8tpbp50ybd...02021.jpg?dl=0

Here are the stocks I will be watching to start the week:
Day Trade and Swing Trade Long Candidates:
ABNB, AZUL, NVAX, SKIN, VRAY
Day Trade and Swing Trade Short Candidates:
DBI
Buy and Hold Candidates:
(none)
Interesting Recent IPOs:
(none)

Good luck with your trading and investing.

[BlueWolf]

Market sentiment for week ending June 18, 2021

Market sentiment for week ending June 18, 2021

Short Term Bias: Neutral
Long Term Bias: Neutral

I have included annotated daily charts for the NASDAQ and Dow. The S&P is somewhat similar to the NASDAQ and so I have not included a separate chart for it.

The NASDAQ and the S&P both finished higher, week-over-week, with the Dow closing lower. All three indices still appear to be in a consolidation mode, with the consolidation of the NASDAQ and S&P appearing somewhat bullish and the consolidation of the Dow appearing somewhat bearish. Except for the slight divergence, last week didn’t give us a whole lot of new information. My short and long term bias is there still neutral, although I am slightly bullish in my short term bias for the NASDAQ and S&P and slightly bearish in my short term bias for the Dow. Because I like to trade with the direction of the market, it’s difficult to trade right now while in such an indeterminate state.

Annotated Daily Chart for the NASDAQ:
https://www.dropbox.com/s/6mq35tsxee...02021.jpg?dl=0

Annotated Daily Chart for the Dow:
https://www.dropbox.com/s/wwccpadond...02021.jpg?dl=0

Here are the stocks I will be watching to start the week:
Day Trade and Swing Trade Long Candidates:
BOMN, EGHT, HUBS, SKIN, ZIM
Day Trade and Swing Trade Short Candidates:
BG, SI
Buy and Hold Candidates:
PAYC
Interesting Recent IPOs:
(none)

Good luck with your trading and investing.

[BlueWolf]

Market sentiment for week ending June 25, 2021

Market sentiment for week ending June 25, 2021

Short Term Bias: Neutral
Long Term Bias: Bearish

I have included annotated daily charts for the NASDAQ, S&P, and Dow.

Divergence is the name of the game right now, although if it were majority rule, the nays would have it. The Dow went into total meltdown mode last week and the S&P showed a fair amount of weakness. The NASDAQ, though it closed slightly down for the week, showed far more resilience. This divergence makes the tea leaves a little hard to read, but given the strength and volume of the Dow’s descent into madness, I have to give the bears their due respect. For this reason my long time bias is bearish. I do expect some kind of bounce in the Dow this week with the NASDAQ possibly creeping a little higher. I can’t ignore the bearish pressure on all the indices, however, and for that reason, my short term bias is neutral.

Annotated Daily Chart for the NASDAQ:
https://www.dropbox.com/s/zmrl6yobdp...02021.jpg?dl=0

Annotated Daily Chart for the Dow:
https://www.dropbox.com/s/gffktkcjgc...02021.jpg?dl=0

Annotated Daily Chart for the S&P:

https://www.dropbox.com/s/zfg8y8heu9h7mp1/S%26P%20Jun%2020%2C%202021.jpg?dl=0

Here are the stocks I will be watching to start the week:
Day Trade and Swing Trade Long Candidates:
AVXL, SKIN
Day Trade and Swing Trade Short Candidates:
BKR, CENX
Buy and Hold Candidates:
(None)
Interesting Recent IPOs:
(None)

Good luck with your trading and investing.

[BlueWolf]

Market sentiment for week ending July 2, 2021

Market sentiment for week ending July 2, 2021

Short Term Bias: Neutral
Long Term Bias: Neutral

I have included annotated daily charts for the NASDAQ, S&P, and Dow.

Last week, the nays ruled in favor of bearishness. This week, it flipped with the NASDAQ and S&P making new highs after a very strong week. The Dow not only failed to make a new high, it failed to take out its prior pivot high (yet) thereby creating a short term down trend based on the data so far. This divergence has me sitting on the fence a little and hence my long term bias is neutral. If I could base my opinion solely on the NASDAQ and S&P, I would be feeling pretty bullish about the overall market right now, but another downward spike in the Dow could easily drag everything down. As for the short term, I am a little neutral because of the big rally all three indices had last week. It is normal after such a big week to see either some consolidation or a small pullback. I guess I am still in a wait and see mode right now.

Annotated Daily Chart for the NASDAQ:
https://www.dropbox.com/s/umbemi9y6i...02021.jpg?dl=0

Annotated Daily Chart for the Dow:

https://www.dropbox.com/s/olbsyd6xr7wqrac/Dow%20Jun%2027%2C%202021.jpg?dl=0

Annotated Daily Chart for the S&P
https://www.dropbox.com/s/q3j1hl3x9z...02021.jpg?dl=0

I didn’t find hardly any stocks I really loved this week, but here are the ones I will be watching to start the week:
Day Trade and Swing Trade Long Candidates:
STSA, VMEO
Day Trade and Swing Trade Short Candidates:
RAD
Buy and Hold Candidates:
(None)
Interesting Recent IPOs:
(None)

Good luck with your trading and investing.

[BlueWolf]

No update this week. Sorry.