We'll discuss in detail the new Intermediate-Term PMO BUY Signal on the SPY further down in the report. Let's look at OEF: Mega-caps are doing well with a nice rising trend in place. The PMO does look a bit suspect as it flattens out, but it is still rising for now...
As I updated the spreadsheet this week I was pleased to see last week really shaping up. Nine of the ten stocks/ETFs are up with some up quite a bit. This week also saw the majority of "Diamonds in the Rough" in the green. I have a feeling they will mature well too...
Today the Semiconductor ETF (SMH) 50-day EMA crossed up through the 200-day EMA (Golden Cross), generating an LT Trend Model BUY Signal. As long as price stays above the 200-day EMA, this signal will stick. It does appear we are getting a breakout from a bull flag...
I didn't have a lot of choices for Reader Request Day. Some symbols had been brought up earlier this week and unfortunately some of them had turned lower out of overbought territory. One reader brought a runner to the table for me to discuss...
Financials (XLF) saw a negative PMO Crossover SELL Signal today. Price is still melting upward and is staying above the 50-day EMA. This is a warning shot that XLF may start drifting lower soon...
The ETF scans were not plentiful but I did find some interesting candidates without having to go to our ETF Tracker for more ideas. I nearly presented UGL which is a bullishly leveraged Gold fund. I like Gold very much and was close to including it today...
SPY 10-Minute Chart: The market made its way higher most of the day but began to stumble after lunch. There was an attempt to come out of the decline, but instead we saw a second top...
Today I did see quite a few results from my Diamond Scans. With so many results I thought that I would have a large selection to choose from. Ultimately, there were not that many setups that I liked. I still came up with four today and there are some runner-ups to take a look at...
(Note: We are having problems with the email announcements going out and our DP Alert reports not posting to the website. You can find the reports in the DP Alert "Archive" if we continue to experience issues...
As part of the DP Diamonds Recap, Erin picks a Sector to Watch. Here is her write-up from today: The market may be weakening and that generally means a possible flight to defensive areas of the market. Consumer Staples (XLP) fits that bill...
The majority of "Diamonds in the Rough" were up this week, but we didn't see a better gain than the SPY did this week. I'll give this week a B-. Let's dive in. In today's Diamond Mine trading room we had a good sized group...
Today the Technology Sector (XLK) 50-day EMA crossed up through the 200-day EMA (Golden Cross), generating an LT Trend Model BUY Signal. The problem here is that this bullish crossover took a lot of work, and now XLK is intermediate-term overbought...
I have one reader that deserves a gold star today on his homework for Reader Request Day. He was the only reader to submit requests and he did a great job. So much so that I didn't add any of my own today. All three are "Diamond in the Rough" material...
NVIDIA (NVDA) reported earnings after the bell and they have been well-received. Last we looked, NVDA was up +4.45% in after-hours trading. We can see the jump after the bell and the formation of a bull flag that does imply more upside...
Today the Surge Scan went crazy! I had over 200 results on the Surge Scan today. It turned up some excellent candidates whereas the other scans were mostly mediocre with their results. Consequently I decided to only pick from the Surge Scan today...
Today we got notice that the Nasdaq 100 (QQQ) had triggered an Intermediate-Term PMO BUY Signal. The signal won't be official until it goes "final" after the close on Friday. The SPY is getting close but we don't have it yet...
Today the Surge Scan went crazy! I had over 200 results on the Surge Scan today. It turned up some excellent candidates whereas the other scans were mostly mediocre with their results. Consequently I decided to only pick from the Surge Scan today...
One indicator we watch closely is the relative strength line of RSP compared to the SP500. When it is falling on the chart as it is now, it means that mega-caps are taking charge of the market. Most of the time this is a good thing but as of late, it is a problem...
It wasn't a great week for Diamonds in the Rough mainly due to the recent downturn in price. It took many of our positive positions from last week and moved them into the loss column. On the minimal bright side, Diamonds in the Rough did outperform the benchmark SPY this week...
Today the Nasdaq Composite Index ETF (ONEQ) 50-day EMA crossed up through the 200-day EMA (Golden Cross), generating an LT Trend Model BUY Signal. Price looks like it wants to turn over right now, but it is technically holding above support for now...