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I'm headed back home on the ferry from Nantucket as my wife and I grieved (don't tell our daughter but we had a blast) post college drop off. I'll be back on the desk at full capacity tomorrow. So let's get to the charts...
- US Markets - Sentiment, Daily on SPX and NDX
- Hedge Fund Telemetry Trade Ideas - No changes
- Currency Update - Slight turns off of extreme sentiment
- European Market Update - Trying to warm up on Euro Stoxx 50
- Global Market Update - EEM needs a little more upside
- Tesla Update
- Costco Update
- Gold Update
- Bond Update - Will have more on this tomorrow
- DeMark Screens - Daily, Weekly, Monthly upside/downside exhaustion signals within the S&P 1500 and Euro Stoxx 600
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Here's a link to the Hedge Fund Telemetry market sentiment page with 40 charts of sentiment including equities, bonds, currencies, and commodities updated each day.
SPX bullish sentiment is at 70%
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SPX daily no changes after upside exhaustion Friday
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Nasdaq bullish sentiment is at 68%
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Nasdaq 100 still not doing much
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Hedge Fund Telemetry Trade Ideas
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Trade Ideas - No changes today. Contemplating some European long exposure with FEZ and adding to the TLT long position. Will have more tomorrow. Sorry having some connectivity issues on ferry.
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US Dollar bullish sentiment is at 81% down from recent extreme high of 96%
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US Dollar Index slight over throw
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Euro did price flip up on day 2 of 9 with green Setup
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Euro Stoxx 50 held recent lows and I'm working on a long thesis in Europe.
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FEZ Euro Stoxx 50 ETF I'm likely going to add a 2.5% long position tomorrow
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EEM Emerging Markets ETF still would make me happy to see this above 44
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Waterfall time in Tesla. Watch the squeezy moves. I believe it's check mate for them after Elon's tweets will cost them billions in shareholder lawsuits
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More upside exhaustion signals but no turn yet
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Gold bullish sentiment is at 11%
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Gold needs a little more turn. More tomorrow
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Bond bullish sentiment is at 65%
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TLT might be adding tomorrow
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DEMARK SCREENS - Daily, Weekly, Monthly Upside/Downside Exhaustion Signals
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Daily/Weekly DeMark upside/downside exhaustion signals (Sequential) weekly updated on Monday's and monthly on the first day of the new month. Price flips occur when a stock closes higher/lower than four previous closes and increases conviction of a price turn.
The upside 13's are sell signals and downside 13's are buy signals. Price flip's are confirmation signals that increases potential for a price trend change. For example, if you are long a stock and there is an upside 13, you will want to take cautious action by selling down or out of a position. If initiating a short sale with the upside 13's, we tend to start with a 1/2 size and add with the downside price flip. The opposite is true for when there are downside 13's. Take a 1/2 size position
and add with the upside price flip. The DeMark Indicators are designed to assist the user with buying into weakness and selling into strength to anticipate trend exhaustion. Selling into a rally and buying into a decline often afford the opportunity to exit a trade without too serious a loss if wrong.
S&P 1500 Universe:
DAILY UPSIDE 13: AEP, ALE, BMY, CHRW, CLI, CSL, CTAS, DAKT, ESE, GDOT, GTY, HRB, JACK, LII, LNT, LPX, TGT,
TMO
DAILY DOWNSIDE 13: AMAT, MU, RGLD
DAILY UPSIDE WITH PRICE FLIP REVERSAL DOWN: BKE, WAB
DAILY DOWNSIDE WITH PRICE FLIP REVERSAL UP: BAS, BPFH, GEF, GM, GSM, ICON, IP, NCR, OSK, OXY, PKG, PNR, RS, SWM, TOL, TUP, TWI, VAR
Updated: 8/20/18
WEEKLY UPSIDE 13: DG, FORR, KSS, LII, MRK, MSCI, MSFT, NEE, ORI, ORLY, POWL, URBN, V, VVI, WMT, WWW
WEEKLY DOWNSIDE 13: LL
Updated: 8/1/18
MONTHLY UPSIDE 13: AIZ, ATR, BIO, CBU, CDNS, CMS, CSX, DGX, EE, FCN, FIX, GTY, HAE, HAS, IDXX, IEX, KSU, MA, NI, NPK, PTC, RLI, ROL, WEC
MONTHLY DOWNSIDE 13: CIR, HIBB
Euro Stoxx 600 Universe:
DAILY UPSIDE 13: CARLB DC, GETIB SS, LEG GR
DAILY DOWNSIDE 13: UBI IM
DAILY UPSIDE WITH PRICE FLIP REVERSAL DOWN: GN DC
DAILY DOWNSIDE WITH PRICE FLIP REVERSAL UP: ATCOA SS, BWY LN, ELUXB SS, ILD FP, LI FP, LR FP, NOKIA FH, RNO FP
Updated: 8/20/18
WEEKLY UPSIDE 13: ADM LN, GJF NO, HSX LN, SWMA SS
WEEKLY DOWNSIDE 13: JUP LN, KPN NA, SAB SM
Updated: 8/1/18
MONTHLY UPSIDE 13: TEMN SW
MONTHLY DOWNSIDE 13: CO FP, GETIB SS, RXL FP, TALK LN
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