Weekend Power Snapshots

April 6, 2024

Let's Start Here

Weekend Power Snapshots compile the daily snapshots to show how the week progressed. It will be part of the elite memberships and sent out each weekend. These quickly show where each segment stands on the long, intermediate and short-term views from breadth and momentum perspectives each day of the week.

The scene got more volatile this week ending the weak start, strong end mantra we have seen for a bit. This week was more of a battle between buyers and sellers. Overall, the buyers are still winning, but the sellers took the week. There was a shot across the bow on Thursday we are still keeping an on. MA breadth bounces around during the week, but ended worse than it started.

Losing some luster this week with everything else, but actual RSI weakness is sparce still. We will see if some divergences finally work for a minute or just keep grinding the sellers.

Sellers were there on Monday, but couldn’t make much of a dent. From Tuesday on, they didn’t disappear.

The selling pressure came on Monday, Tuesday when it didn’t show that much, and Thursday which got everyone’s attention. I mentioned Friday morning I was surprised Thursday’s selling didn’t post stronger pressure. From a percentage standpoint, the selling pressure was actually stronger on Monday and Tuesday than it was Thursday, then on Friday they went dormant.

New highs. Most intense day was Wednesday, but concentrated in less areas than last week. 

The difference in this week is New Highs didn’t just dissipate and take a day or two off. New lows actually showed up and stayed at the party all week. Right now, they are happy to party with the highs, but usually once they have had one too many and start getting cocky, they will start making a mess of the place if the buyers don’t step up and show them the exit. We are not there yet.

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!