Power Snapshots

April 3, 2024

Let's Start Here

Daily Power Snapshots are a new morning review of the sector and subsector data spreadsheets that we post from time to time. This will be part of the elite memberships and will hit your inbox early for your daily preparation. These quickly show where each segment stands on the long, intermediate and short-term views from breadth and momentum perspectives. Also, keep an eye out for the weekend version where we put each snapshot for the week in a carousel so you can see how things changed as we progressed through the week.

Moving Average breadth has backed off, but not really seeing much damage yet from the current early week selling. Real Estate can’t seem to get going, and won’t until the concerns over interest rates going back up calms some.

RSI snapshot is also not too worried about the selling yet, but we will keep watching the change each day. Right now, we still have a chunk of subsectors on Nitrous, not exactly painting too tough a picture, more just ebb and flow for now.

New lows picked up again for the second week in a row. Last few weeks, buyers showed up after Tuesday, let’s see if they come in today and whether or not they press enough to grab back control.

Similar to what we saw last week, when they sell, they are pretty binary. Concerns over rate cuts are causing a lot of this, but it’s good to see the digestion after a strong move.

Even with the broad selling, Materials and Energy didn’t really care and continue to push. The strength was again commodity driven.

Sellers pushing the rest of the sectors and subsectors around. Health Care tried to stabilize last week, but caught heavy selling again yesterday. Some headlines and interest rate sensitivity put the pressure here today. Overall, this is like the last few weeks, now we wait and see if buyers come back in and grind things back up by the end of the week. If they don’t, maybe we finally have a chance for a more pronounced pullback. Time will tell.

A quick review should help you find where money is flowing and get to your fishing lanes for the day a little faster. To dive deeper into any particular space, just go back up top to the menu you can get to any sector or subsector from there!

This information is for educational purposes only and is not a recommendation.  Please see the full disclosure in the footer.

As always, I hope this helps!