Today’s Market Comments:

Stocks fell Thursday, November 29th. The decline was mild. Volume fell. This decline looks to be part of a wave {c} up of 2-up rally, which is correcting the October plunge. More upside is likely. There were no changes to our indicators from Thursday’s price action.

 

Trump meets China’s Xi this coming weekend at the G20 meeting in Buenos Aires. If they are able to come to significant progress that would halt the tariff war, we could see a powerful thrust higher for stocks next week. The wave mapping is looking for another 1,000 point rally for the Industrials to reach a top for wave {c} of 2. Our Blue Chip key trend-finder indicators remain on Buys going into this meeting, so it all seems to fit.

 

Precious Metals and Mining stocks were essentially flat Thursday.

 

 

Our Blue Chip key trend-finder indicators moved to a Buy signal November 27th, 2018 and remain there Thursday, November 29th. The Purchasing Power Indicator component triggered a Buy signal Monday, November 19th. The 14-day Stochastic Indicator generated a Buy on November 12th, and the 30 Day Stochastic Indicator generated a Buy on November 20th, 2018. When these three indicators agree, it is a short-term (1 week to 3 months’ time horizon) key trend-finder directional signal. When these three indicators are in conflict with one another, it is a Neutral (Sideways) key trend-finder indicator signal.

Our intermediate term Secondary Trend Indicator generated a Sell signal Wednesday, October 10th, and remains there Thursday, November 29th, losing 3 points (out of a possible 9 points), to negative -17. It will need to rise above positive + 5 for a new Buy signal.

Demand Power fell 4 to 415 Wednesday while Supply Pressure fell 1 to 408, telling us Thursday’s drop in Blue Chips was weak. This DP/SP Indicator moved to an Enter Long Signal November 28th, and remains there Thursday, November 29th, 2018. The previous Sell signal identified the start of the October plunge.

The Plunge Protection Team Indicator moved to an “OFF” signal on October 25th, which means the PPT is not likely to support the markets while this indicator remains on an “OFF.” This means there is not likely to be significant government intervention at this time. This indicator is designed to identify high probability periods where the PPT will be supporting, or buying the stock market (when it is on an “On” signal) and when it moves to a Neutral or Off signal (formerly called Sell), it does not mean the stock market will decline, it means the PPT’s interest in buying the market is off rather than on, and market forces outside the PPT are more likely to determine stock trends up or down. In other words, a Neutral or Off signal means the odds are higher that the PPT stands down or has little influence on price trends. 

Caution: I would not bet the farm on a Crash. Crashes are rare and maybe the pattern will morph into something we presently do not see that is less ominous. Risk must be managed. Maybe the Fed buys the entire stock market, who knows given their track record. Maybe a black swan event is postponed several months.

Gold, Silver and Miners rose slightly Thursday. They generated a Sideways signal Friday, November 16th, as the HUI 30 Day Stochastic triggered a Sell signal October 24th, and our HUI Purchasing Power Indicator generated a Buy on November 16th. When these two indicators agree, it is a directional signal, and when at odds with one another, it is a combination neutral signal. The HUI Demand Power / Supply Pressure Indicator moved to an Enter Short signal Wednesday, October 24th. On Thursday, November 29th, Demand Power fell 3 to 394 while Supply Pressure rose 1 to 419, telling us Thursday’s HUI decline was mild.

DJIA PPI fell 1 to 27.23, on a Buy

DJIA 30 Day Stochastic Fast 70.00 Slow 58.00 On a Buy

DJIA 14 Day Stochastic Fast 80.00 Slow 38.33 On a Buy

DJIA % Above 30 Day Average 70.00

DJIA % Above 10 Day Average 76.67

DJIA % Above 5 Day Average 86.67

Secondary Trend Indicator Fell 3 to Negative -17, On a Sell

Demand Power Fell 4 to 415, Supply Pressure Fell 1 to 408 Buy

McClellan Oscillator Fell to Positive + 75.15

McClellan Osc Summation Index – 292.67

Plunge Protection Team Indicator – 14.6, on an “OFF”  

DJIA 10 Day Advance/Decline Indicator – 2.5 on a Sell

NYSE New Highs 38 New Lows 168

Today’s Technology NDX Market Comments:

The NDX Short-term key Trend-finder Indicators generated a Buy signal Wednesday, November 28th, 2018, and remain there November 29th, 2018. The NDX Purchasing Power Indicator generated a Buy on November 26th, the NDX 14 Day Stochastic triggered a Buy signal on November 26th, 2018 and the 30 Day Stochastic triggered a Buy signal on November 28th. When all three component indicators are in agreement on signals, it is a consensus directional signal. When they differ, it is a sideways signal.

 

The NDX Demand Power / Supply Pressure Indicator moved to anEnter Long positions signal Wednesday, November 28th and remains there November 29th. On Thursday November 29th, Demand Power fell 4 to 454, while Supply Pressure fell 2 to 434, telling us the decline was mild.

 

The NDX 10 Day Average Advance/Decline Line Indicator triggered a Buy signal November 20th, 2018, and needs to fall below negative – 5.0 for a new Sell. It fell to + 16.0 on Thursday, November 29th.

 

NDX PPI Fell 1 to 168.95 On a Buy

NDX 30 Day Stochastic Fast 66.67 Slow 52.38 On a Buy

NDX 14 Day Stochastic Fast 76.19 Slow 51.43 On a Buy

NDX 10 Day Advance/Decline Line Indicator + 16.0 On a Buy

NDX Demand Power Fell 4 to 454, Supply Pressure Fell 2 to 434 Buy

 

RUT PPI Fell 1 to 149.35 on a Buy

RUT 10 Day Advance/Decline Line Indicator + 89.4 On a Sell

 

Today’s Mining Stocks and Precious Metals Market Comments:

Our HUI key trend-finder indicators moved to a Sideways signal October 25th, 2018.

HUI PPI Fell 1 to + 164.90, on a Buy

HUI 30 Day Stochastic Fast 35.00, Slow 31.67 on a Sell

HUI Demand Power Fell 3 to 394; Supply Pressure Up 1 to 419, Sell