The stock market had an upward trending week resulting in BUY signals on Indicators #5 and #8, resulting in a BDH Dashboard “3” BUY signal on Friday. Subscribers were notified earlier in the week about the Indicator #8 BUY signal.
The NASDAQ Composite, S&P 500 and Russell 2000 all closed at record highs, while the DJIA is still 3% away from late January peak. For the week the NASDAQ led the advance with a gain of 1.66%, followed by the S&P 500 which gained 0.96%, and the DJIA gaining 0.47%.
The number of new NYSE 52-week highs was 304 up from 201 the prior week, but still paltry for a market near new highs. The percentage of NYSE stocks above their 50-dmas advanced ti 61.98%. The percentage of stocks above their longer-term 200-dma also advanced to 61.63 up from 59.3% for the past few weeks.
This past week gold shot up 1.81% and gold miners advanced 1.23%. Oil jumped a huge 5% for the week. Fixed income was up between o,38% to 1.08% for IED and TLT, respectively.
Indicator #2 NASDAQ Composite Index and 100-dma. This indicator’s last BUY signal was on May 5, 2018. See upper chart
Indicator #5 NASDAQ Composite with MACD. This indicator issued a MACD BUY signal on August 24, 2018, thereby reversing its recent SELL signal. Refer to the first chart’s green circle on the positive MACD crossover on Friday.
Indicator #6 AAII Weekly Investor Sentiment Survey Bullish Percentage. The latest August 8, 2018 Bullish Percentage reading was 38.5% up 2.3 percentage points from the prior week. No BUY signal on this indicator is in sight as it must first fall below 25% and then rise above it a week or more later. The last BUY signal was given on 5/21/2015.
Indicator #8 NASI Summation Index and MACD. This indicator issued an August 21, 2018 BUY Signal. See nearby chart and two green circles on the right side.
Here is a chart showing all Dashboard buy and sell signals (it may take a day or two for the new signal to be posted):
Dashboard Now on “3” BUY signal
Here is the latest Dashboard. Click on the line below:
Note that I could not provide a normal spreadsheet type link due to a software issue with this WordPress software. Go back to January 2017 to see the last spreadsheet and all prior data.
Dark Liquidity BDH Performance Statistics
www.dark-liquidity.com/BDHV2new.php independently tracks the BDH performance. Year- to-date, the BDH strategy is up 2.84%. The NASDAQ Composite is up 15.1% YTD, the S&P 500 is up 7.52%, and the DJIA is up 4.33%.
Top 5 ETFs – 100% Cash Right Now
No ETFs are currently held. My recommendation on what to do about this BUY signal will be first provided to subscribers via a separate email either late Saturday or before 12 noon Sunday. It will be posted on this website in next week’s blog.
BDH Decision Page – BDH Dashboard ETFs
Here is the link to the Decision Page. Copy and paste it into your browser:
Currently, there are 32 “passes” out of 44 ETFs, and 19 “passes” among the top 20 ranked ETFs, quite a rally.Also, remember that I changed the ETF universe a few weeks ago. The current ETFs are shown on www.etfscreen.com/buydonthold Decision page. ETFscreen.com has updated the information provided on the BDH strategy effective last Thursday. Note that the seven asset classes were removed from the database as they were of minimal value overall. Currently,the top performers are in the energy, technology, retail, real estated and small cap areas.
Conclusion — Market Unconstrained At Record Highs
We have waited patiently for a higher market to get the next BDH “3” BUY signal and that occurred this past Friday. My recommendation on what to do about this BUY signal will be first provided to subscribers via a separate email.
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As of March 23, 2018, this site has been offering a yearly subscription for $20 for interim weekly updates and additional analysis, as needed. This blog is still free, but some information and analysis will be provided only to subscribers. If you’ve sent me a payment, but have not received the earlier emails, then please email me at email@example.com. Please click on the following link for subscription details:
Interim mid-week emails to subscribers will not be sent out each week unless there is a BDH signal change, an indicator signal change, an ETF sale or an unusual situation.