Info!! A Few Thoughts Together With Observations Almost The Electrical Current Market

* The advance-decline work specific to NYSE mutual stocks is starting to act a fleck toppy (bottom pane, nautical chart above); credit to Decision Point for the first-class chart;

* Speaking of Decision Point, Carl Swenlin has a prissy article out looking at intermediate-term momentum as well as what that is proverb nigh the electrical flow market;

* XLE has never confirmed its June highs; the advance-decline work specific to the XLE stocks looks longer-term toppy;

* I abide by nosotros had a tick upwards inward 20-day lows on Tuesday, alongside 655 20-day highs as well as 328 lows. Interestingly, novel 20-day highs as well as lows were almost equal on the NASDAQ, which has shown recent relative weakness;

* We've seen gradual erosion inward Technical Strength, though the bulk of shares inward my handbasket rest inward uptrends: 25 stocks are inward uptrends, 6 are neutral, as well as ix are inward downtrends. Technology as well as release energy shares are the weakest grouping equally of Tuesday's close; materials as well as industrial shares rest relatively strong.

* Short-term momentum has turned bearish for stocks, alongside Demand at xviii as well as Supply at 111. This agency that nigh half-dozen times equally many issues unopen Tuesday below the volatility envelope surrounding their short-term moving average equally unopen higher upwards the envelope. As a rule, Demand as well as Supply tend to crest ahead of toll on marketplace rises as well as declines.

* I abide by that 10-year municipal (tax-free) bonds are yielding 3.28% vs. nigh 3.66% for (taxable) 10-year Treasury notes. That is quite a alter from the province of affairs before inward the year, when muni bonds yielded to a greater extent than than Treasuries on an absolute basis. Fear of default amid municipalities has clearly declined, as well as at that topographic point is considerable retail involvement inward yield;

* TIPS overstep on to toll inward little inflation expectations; might the Fed destination quantitative easing? We're starting to listen hints of limiting the stimulus punch bowl inward China; if the United States presently follows, I'd expression supportive implications for the dollar as well as about pressure level on stocks as well as commodities.
.