Mike
11-12-2016, 06:19 PM
Watch lists are updated. I rejected a lot of stocks showing too much distribution in their bases. I inspect each above average volume daily and weekly price bar for where the close is relative to the range. Any positive closing bar that closes in the lower half of the range is a Stall bar (a form of distribution), otherwise, it is an Accumulation bar. Any negative closing bar that closes in the lower 40% of the range is a Distribution bar, otherwise, it is a Support bar (a form of accumulation.) A net count of accumulation and distribution bars is obtained over the most recent base. If there is more distribution/stall than accumulation/support the base is rejected from the watch list.
The MarketSchool Market Exposure Model (MEM) is NASDAQ-centric; this has left the MEM in correction waiting for a proper follow-through day and IBD with a market direction call of Uptrend Resumes. It seems fairly clear that portfolio managers are repositioning their portfolios to represent their view of a changing administration. It is unclear that this will lead to sustained buying of their favorite sectors. So, I am waiting for a follow-through day or some other clear signal to venture long.
The MarketSchool Market Exposure Model (MEM) is NASDAQ-centric; this has left the MEM in correction waiting for a proper follow-through day and IBD with a market direction call of Uptrend Resumes. It seems fairly clear that portfolio managers are repositioning their portfolios to represent their view of a changing administration. It is unclear that this will lead to sustained buying of their favorite sectors. So, I am waiting for a follow-through day or some other clear signal to venture long.