Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Stocks

Where is the Market Finding Joy?

by March 20, 2023
March 20, 2023
Where is the Market Finding Joy?

Where is the market finding joy? Is it here, in the Russell 2000 (IWM)? Let’s check out the weekly chart.

The 50-week moving average just crossed below the 200-week moving average. That is bearish. The Leadership Indicators shows IWM well underperforming the SPY; also bearish. The Real Motion Momentum Indicator is in a bearish phase at the moment as well, albeit with some signs of oversold conditions.

This weekend’s Outlook pointed out that “There are far too many disjointed economic scenarios playing out. These are all meaningful problems that could have a serious impact on the financial condition of the U.S.”

Our Risk Gauges are Risk-Off for the most part. Even with Monday’s rally, sectors like Retail (XRT) and Transportation (IYT) are weak. So where is the joy?

Our Sister Semiconductors is the bright spot. The opposite of her Granddad IWM, she is in a weekly bullish phase. SMH is outperforming the SPY.

One caveat, however — the Real Motion momentum indicator is in a bearish phase with momentum just skimming along the 50-WMA. Keep that in mind.

Add our Big View Indicator and it says:

Risk-On

Value stocks (VTV) have gotten crushed last week when compared to Growth stocks (VUG) on a relative basis. VUG has reclaimed a bullish phase similar to the Nasdaq, while VTV is now underperforming relative to the rest of the US Market. (+)

Neutral

US Indices are showing a confused picture, with QQQ reclaiming a bullish phase on both a daily and weekly timeframe. In contrast, the other 3 key indices continued to sell off and close under their 200-day moving averages and in Distribution phases. (=)

What happens next? Perhaps SMH is telling us that, whilst IWM holds the December lows, the market can still rally. Or perhaps the “tech saves the day” trade, whilst still the future, got a bit too ahead of itself, and the FOMC can bring everything tumbling down.

Everything except inflation. We still believe that will persist.

Here is a look at this week’s economic data on tap:

For more detailed trading information about our blended models, tools and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.

IT’S NOT TOO LATE! Click here if you’d like a complimentary copy of Mish’s 2023 Market Outlook E-Book in your inbox.

“I grew my money tree and so can you!” – Mish Schneider

Get your copy of Plant Your Money Tree: A Guide to Growing Your Wealth and a special bonus here.

Follow Mish on Twitter @marketminute for stock picks and more. Follow Mish on Instagram (mishschneider) for daily morning videos. To see updated media clips, click here.

Mish in the Media

Mish sits down with Kristen on Cheddar TV’s closing bell to talk what Gold is saying and more.

Mish and Dave Keller of StockCharts look at longer term charts and discuss action plans on the Thursday, March 17 edition of StockCharts TV’s The Final Bar.

Mish covers current market conditions strengths and weaknesses in this appearance on CMC Markets.

Mish sees opportunity in Vietnam, is trading SPX as a range, and likes semiconductors, as she explains to Dale Pinkert on ForexAnalytix’s F.A.C.E. webinar.

Mish and Nicole discuss specific stock recommendations and Fed expectations on TD Ameritrade.

Coming Up:

March 20th: Twitter Spaces with LiatheTrader and Wolf Financial

March 22nd: The RoShowPod with Rosanna Prestia

March 24th: Opening Bell with BNN Bloomberg

March 30th: Your Daily Five, StockCharts TV

March 31st: Festival of Learning Real Vision “Portfolio Doctor”

April 24-26: Mish at The Money Show in Las Vegas

May 2-5: StockCharts TV Market Outlook

ETF Summary

S&P 500 (SPY): 390 pivotal.Russell 2000 (IWM): Still weak comparatively–170-180 range now.Dow (DIA): 310 support, 324 resistance.Nasdaq (QQQ): 328 is the 23-month MA resistance, 300 support.Regional Banks (KRE): 44 support, 50 resistance–still looks like lower in store.Semiconductors (SMH): 255.64 last month’s high, 248 nearest support.Transportation (IYT): Clutch-hold 218 if this market is to hold.Biotechnology (IBB): 2 inside days and at resistance–interesting sector. Retail (XRT): 60 big support, 64 big resistance.

Mish Schneider

MarketGauge.com

Director of Trading Research and Education

0
FacebookTwitterGoogle +Pinterest
previous post
Why is water hygiene important in the construction industry?
next post
The Halftime Show: Is Tech Becoming a Safe Haven?

You may also like

When in Doubt, Follow the Leadership

April 18, 2025

Chop Going Into CPI and FOMC

December 9, 2022

This Semiconductor ETF is Hitting a Critical Juncture

March 3, 2023

The Ord Oracle October 3, 2023

October 4, 2023

Trading With the Williams Money Flow Index

August 25, 2023

AMD at a Crossroads: Buy Now or Brace...

May 2, 2024

Week Ahead: Banknifty At High Point & NIFTY...

November 19, 2022

Rules-Based Money Management – Part 6: Putting It...

May 23, 2024

How Long Can Semiconductors Lead the Market?

March 8, 2023

Three Concerning Signs for Stocks

February 10, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • DAVID MARCUS: Zany Zohran endorsement is existential choice for Hakeem Jeffries

      July 26, 2025
    • FTC firings take spotlight in Trump’s fight to erase independence of agencies

      July 26, 2025
    • DNI Tulsi Gabbard declassified Trump-Russia docs: Here’s what they say

      July 26, 2025
    • Trump signs rescissions package, closes out week with trip to Scotland

      July 26, 2025
    • CHARLIE KIRK: Republicans must seize Gen Z moment or risk losing an entire generation

      July 26, 2025
    • Technology in Hospitality: Innovations Shaping Guest Experiences

      July 26, 2025

    Categories

    • Business (8,580)
    • Investing (2,151)
    • Politics (16,208)
    • Stocks (3,228)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved