In this video I respond to a reader question about using the Stage Analysis Screener to trade stock market indexes. In particular the reader was interested in the TSX, so I focus on that index. The Stage Analysis Screener is very useful for understanding the trend of a market, breadth of an index, and finding leadership sectors and leading stocks.
Some of the uranium miners including the ETF URA have moved back above the 30-week EMA. Is the new rally sustainable or could it be a fake rally which leads to more consolidation? I take at the uranium market from a Stage Analysis perspective in the following video:
Gold and gold stocks are setting up a basing formation that will eventually resolve into a big move higher or lower. Sentiment in the gold market is bearish and the media is totally ignoring the gold market right now. Seasonally gold tends to make a major bottom around the end of June and the start of July. All that and more is discussed in the video below:
In this video I discuss the weak breadth that has occurred across the stock market since early March 2017. Weak breadth means that less stocks are participating in a market rally, which means that it’s harder to find a stock that’s outperforming the market. The market so far in 2017 has been led by large cap tech stocks and by the semiconductor industry groups that have been in strong Stage 2 uptrends since the middle of 2016.
In the second part of the video I go over the importance of not chasing overextended stocks that are far away from the 30-week moving average. This can lead to losses and occurs because traders lack discipline to wait for a better buy point after the stock has consolidated for a while.