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

Future Retirement Success

Stocks

Breadth is Not Keeping Pace with the Bounce

by September 12, 2023
September 12, 2023
Breadth is Not Keeping Pace with the Bounce

The S&P 500 SPDR bounced the last three weeks, but we did not see an improvement in breadth. Weak breadth is also reflected in performance for mid-caps and small-caps, which are lagging. Even so, SPY and QQQ are in short-term uptrends and I am watching the tech sector for clues.

Breadth is Not Keeping Pace with the Bounce – Plus MDY, IWM and XLK

These charts were part of Tuesday morning’s Chart Trader report at TrendInvestorPro. The first chart shows the S&P 500 with the red vertical line marking August 18th. The index is up 2.8% since date. The first indicator window shows SPX %Above 200-day SMA moving sideways since this move (red shading). There was no improvement during the bounce. The second window shows SPX %Above 50-day SMA also moving sideways and remaining below 50%.

The next chart shows SPY, the S&P MidCap 400 SPDR (MDY) and the Russell 2000 ETF (IWM) since January 2023. SPY exceeded its February high and is currently around 7.5% above this high. MDY and IWM failed at the February high and are currently around 5% below this high. Small-caps and mid-caps are not the place to be.

Large-cap techs are the place to be. QQQ and XLK are leading the market and helping the large-cap weighted S&P 500 (SPY). The next chart shows XLK with a breakout in late August and short-term uptrend (blue dashed lines). At this point, traders must decide what it would take to prove this bullish stance wrong.

The dashed lines show a possible rising flag (bearish pattern). XLK is testing the flag line after a decline last week. There is also the big surge on August 29th (Marubozu candlestick). I am using the low of this candlestick to mark support at 169. A close below 169 would erase this big gain and clearly break flag support. Such a move would be bearish.

Check out the Chart Trader report at TrendInvestorPro for more details. Tuesday’s report updated levels for SPY and QQQ, highlighted TLT and covered yield spreads. We also provided some analysis and setups for ITB, SOXX, PPA and five stocks. Click here for immediate access. 

Click here it learn about the TIP Indicator Edge Plugin for StockCharts ACP.  

—————————————

0
FacebookTwitterGoogle +Pinterest
previous post
Google’s Antitrust Trial Starts: What’s at Stake and Why This Case Matters
next post
Triple lock means state pension set to rise by 8.5% in April

You may also like

This is the Group to Watch for the...

April 18, 2025

Complimentary Edition of the DecisionPoint “Weekly Wrap”

October 21, 2023

Stocks Plunge with Key Earnings on Tap

April 30, 2024

At the Edge of Chaos: The Fed Will...

October 31, 2022

S&P 500 Still Bullish: This Is What You...

June 7, 2024

Top Two Sectors to Watch in April 2024

April 3, 2024

Alphabet Stock (GOOGL) Is Gaining Momentum: Will It...

May 9, 2023

Sector Spotlight: Sensitive Sectors Showing Strength

May 9, 2023

The Elders Both Fatigue: Grandpa Russell 2000 v....

May 24, 2023

Small-Caps Feel the Pinch “Under the Hood”

May 8, 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

    • XRP price prediction hits new highs, GMO Miner helps you earn $6,800 a day

      August 28, 2025
    • West End retailers lose £310m from VAT-free shopping ban in first half of year

      August 28, 2025
    • Dollar slips as Trump moves to sack Fed governor Lisa Cook in unprecedented clash over central bank independence

      August 28, 2025
    • CDC Director Susan Monarez refuses to be fired as other officials call it quits

      August 28, 2025
    • Bill Gates met with Trump to talk ‘importance of US global health programs and health research’: spox

      August 28, 2025
    • Trump asks SCOTUS to uphold freeze on billions in USAID payments

      August 27, 2025

    Categories

    • Business (8,900)
    • Investing (2,246)
    • Politics (16,503)
    • 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