Power Snapshots

April 9, 2024

Let's Start Here

Power Snapshots 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 measures continue to look solid in Energy and Materials. Industrials and Financials are also putting in the work.

RSIs are holding the 40 level so far and leaving most in RSI bull ranges. Follow through that would have shifted many into bear ranges hasn’t materialized so far.

Short term breadth remains mixed, but is holding it together as well. Consumer Staples stuck out as a drag today.

Any pressure we see is back on the buy side. Interesting to see Financials, Real Estate and Utilities with buying today as the interest rate mantra will likely persist until CPI gets announced this week. Both sides are jockeying for position into the number.

Highs are popping back. The recent strength continued, but today that trio of Financials, Real Estate and Utilities also made a showing.

Retail was the worst showing today with some other Discretionary subsectors joining in. Many of these have been seeing these readings for a bit now, but don’t seem to be spreading to the longer measures. The one that sticks out today is Basic Materials as it sits right in the middle of one of the strongest sectors right now. I will keep an eye on that this week to see if it spreads within the sector.

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!