NASDAQ Closes at 7742.10 +289 pts or 3.88% for week
Overall Major Average Weekly Performance
The markets had another volatile week, but this time the market soared higher for its best performance since November 2018. Finally, the DJIA had an up week after six consecutive declining weeks.
Both the NASDAQ Composite and S&P 500 advanced this week after four weeks of decline. All three major indexes closed below their respective 100-, and 200-dmas which is a positive sign going forward. This may be the start of a rally to take out the 2019 highs or it may reverse back down. We will wait and see what happens.
For the week, the DJIA advanced 3.89%, the S&P 500 gained the most at 4.41%, and the NASDAQ Composite climbed 3.88%.
For the: YTD May
NASDAQ 16.69% -7.9%
DJIA 11.39% -6.7%
S&P 500 14.62% -6.6%
BDH Strategy 3.02% 0%
Indicator #2 generated a BUY signal SELL signal on Friday June 7 after recording a SELL signal on Wednesday Mary 29th. Moreover, Indicator #5 (refer to first chart below) also recorded a BUY signal on Friday June 7, resulting in a new “3” BDH Dashboard BUY signal.
Other Market Segments
Only provided to subscribers as of June 8, 2019.
Market Internals
Only provided to subscribers as of June 8, 2019
Dashboard Indicator Review – Two Positive Changes
Indicator #2 NASDAQ Composite Index and 100-dma. This indicator finally broke above its 100-dma on Friday after closing below it on May 29, 2019. It is now on a new BUY signal (see chart immediately above and notice the red line in the green circle)
Indicator #5 NASDAQ Composite with MACD. This indicator issued a slow MACD SELL signal (upper one) on May 1, 2019 while the faster MACD (lower one) had a SELL signal a day earlier. Please refer to upper chart to review these signals.
Indicator #6 AAII Weekly Investor Sentiment Survey Bullish Percentage. The latest June 5, 2019 Bullish Percentage reading was 22.5% down from 24.8% 7 days earlier. This indicator remains on its BUY signal of November 29, 2018, but it is still below the critical 25% level for the third consecutive week Any move higher from this level will signal another buy signal confirmation, as is has been on a BUY signal.
Indicator #8 NASI Summation Index and MACD. This indicator is still on its April 23 SELL signal, but a market advance next week could turn it positive and create a “4” maximum BUY condition. Currently, only the fast MACD has had a positive MACD crossover on Friday. See chart below.
Dark Liquidity
The link is as follows:
www.dark-liquidity.com/index.php/strategies
You can go to www.dark-liquidity.com first and then hit strategies. Our strategy is still 14th best out of 23.
BDH Decision Page – BDH Dashboard ETFs
Copy and paste the DecisionPage link into your browser:
https://www.etfscreen.com/buydonthold/bdh-decision-page.php
On ETFscreen.com, the Decision Page indicated that 29 ETFs out of 44 have “pass” ratings compared to 11 for the prior week. This is a huge turnaround in one week. Note that 6 of the top 11 ETFs on the Decision Page are Technology related and all but SMH now have “pass” ratings, a complete reversal from the prior week.
You can easily check the top performers for the past 5-days and one month by going to the “Additional Fund Stats” tab on the right side of the BDH Decision Page, and arraying the Rtn-5d and Rtn-3mo column, respectively heading from high to low.
Chart of All BDH Signals
Here is a chart showing all Dashboard buy and sell signals, paste it in your browser. It may take a day or two to update as that is done by a subscriber.
http://stockcharts.com/h-sc/ui?s=$COMPQ&p=D&yr=2&mn=0&dy=0&id=p50034199149&a=250074893
Game Plan Going Forward
The NASDAQ’s next resistance level, if the NASDAQ moves higher, is at 7946.23 that was reached on May16. If that level is surpassed, then 8176.08 reached on April 29 is the next target, and is currently the high for the year. It may take a while for that to be achieved in the normally weak summer period, but anything is possible at any time, as we all have witnessed since 2016.
With the BDH strategy now on a “3” BUY signal, and possibly a “4” BUY signal when Indicator #8 signals one next week or later, investors can buy ETFs with appropriate STOP LIMIT orders in place. The ETFs selected for this new BUY signal are only being sent to subscribers today. Non-subscribers will be given that information next weekend.
Interim updates are sent to subscribers during the week, as needed. No interim update was sent this past week. Any subscriber who has recently sent in a payment and has not received this regular blog today should email me at lesmasonson@yahoo.com so I can check my records and correct any oversight.
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Anyone who subscribers after April 1, 2019 will only receive this extra service until March 31, 2020 to make my bookkeeping simple.
Remember that you are responsible for your investments and how you manage them. This website was developed for educational purposes only and is not responsible for any actions you take with your investments. If you decide to follow the BDH strategy, then you are 100% responsible for your investment outcome. Make sure to check the BDH indicators daily during times when the market is volatile like now. Just bookmark the charts above and look for any signal changes. I may not available during the week to provide interim Dashboard signal changes. It is important to be pro-active, so as not to miss any Dashboard signals. Decide on and place your stop LIMITS that meet your own risk profile.
