Today’s Market Comments:

Stocks were mixed Wednesday, June 26th, Blue Chips and small caps down a bit, Techs and Trannies up a bit. Our Blue Chip key trend-finder indicators moved to a new Sell signal as both the 30 day and 14 day stochastics moved to new Sells, joining the Purchasing Power Indicator. Our Secondary Trend Indicator remains on a Sell signal Wednesday. There was a small change in the McClellan Oscillator Wednesday, suggesting a large price move is likely over the coming days. The stock market Megaphone topping patterns from 2017 would look best with one more upside price move to the rising upper boundary lines of these patterns, 27,250 for the Industrials, 3,100 for the S&P 500 and 8,200 for the NASDAQ 100. Failure to reach these levels would suggest a rare truncation for the final wave C-up of (E ) up for these patterns, an indication that the Bull market from 2009 is over. With new Sell signals cropping up now, we cannot rule out this possibility.

Gold looks to be starting subwave {ii} down of {1} up of 3-up. Gold is on its way toward 1,650, of course with corrective declines along the way. Our HUI key trend-finder indicators remain on a Buy signal.

Our Blue Chip key trend-finder indicators generated a Sell signal June 26th, 2019 and remain there Wednesday, June 26th, 2019. The Purchasing Power Indicator component triggered a Sell signal Tuesday, June 25th. The 14-day Stochastic Indicator generated a Sell on June 26th, and the 30 Day Stochastic Indicator generated a Sell on June 26th, 2019. 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 Tuesday, June 25th, and remains there Wednesday, June 26th, up 1 point (out of a possible 9 points), to negative -6. It will need to rise above positive + 5 for a new Buy signal.

Demand Power flat at 400 Wednesday while Supply Pressure rose 2 to 381, telling us Wednesday’s Blue Chip decline was weak. This DP/SP Indicator moved to an Enter Long Signal June 10th, and remains there Wednesday, June 26th, 2019. 

The HUI generated a key trend-finder indicator Buy signal Friday, May 31st, as the HUI 30 Day Stochastic triggered a Buy signal May 31st, 2019, and our HUI Purchasing Power Indicator generated a Buy on May 31st, 2019. 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 Long signal June 5th. On Wednesday, June 26th, Demand Power fell 1 to 442 while Supply Pressure rose 1 to 383, telling us Wednesday’s HUI rise was weak.

DJIA PPI flat at positive + 54.40, on a Sell

DJIA 30 Day Stochastic Fast 76.67 Slow 86.67 On a Sell

DJIA 14 Day Stochastic Fast 60.00 Slow 86.11 On a Sell

DJIA % Above 30 Day Average 76.67

DJIA % Above 10 Day Average 46.67

DJIA % Above 5 Day Average 20.00

Secondary Trend Indicator Up 1 to negative -6, On a Sell

Demand Power Flat at 400, Supply Pressure Up 2 to 381 Buy

McClellan Oscillator Fell to negative -21.29

McClellan Osc Summation Index + 2625.39

Plunge Protection Team Indicator -8.75, an “OFF” signal

DJIA 10 Day Advance/Decline Indicator + 9.7 on a Buy

NYSE New Highs 78 New Lows 54

Today’s Technology NDX Market Comments:

The NDX Short-term key Trend-finder Indicators generated a Sideways signal Tuesday, June 25th, 2019, and remain there June 26th, 2019. The NDX Purchasing Power Indicator generated a Sell on June 25th, 2019, the NDX 14 Day Stochastic triggered a Sell signal on June 4th, 2019 and the 30 Day Stochastic triggered a Buy signal on June 5th. 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 an Enter Long positions signal Tuesday, June 18th and remains there June 26th. On Wednesday June 26th, Demand Power rose 1 to + 421, while Supply Pressure fell 1 to 407, telling us Wednesday’s rise was mild.

The NDX 10 Day Average Advance/Decline Line Indicator triggered a Buy signal June 7th, 2019, and needs to fall below negative – 5.0 for a new Sell.  It rose to positive + 9.7 on Wednesday, June 26th.

NDX PPI Up 2 to + 186.12, On a Sell

NDX 30 Day Stochastic Fast 73.17 Slow 76.10 On a Buy

NDX 14 Day Stochastic Fast 61.90 Slow 74.29 On a Sell

NDX 10 Day Advance/Decline Line Indicator + 9.7 On a Buy

NDX Demand Power Up 1 to 421, Supply Pressure Fell 1 to 407 Buy

RUT PPI Flat at + 125.17, on a Sell


RUT 10 Day Advance/Decline Line Indicator -3.8, On a Buy
Today’s Mining Stocks and Precious Metals Market Comments:
Our HUI key trend-finder indicators moved to a 
Buy signal May 31st, 2019.


HUI PPI Flat at 206.79 on a
 Buy


HUI 30 Day Stochastic Fast 100.00, Slow 95.00 on a Buy


HUI Demand Power Fell 1 to 442; Supply Pressure Up 1 to 383, Buy

McHugh’s Market Forecasting and Trading Report and this Executive Summary from that report is an educational service providing a body of technical analysis that measures the possibility and probability of future changes in mass psychology (swings from pessimism to optimism and back) which identifies possible new trends in major markets within various time frames, from very short term (daily) through very long term (years and decades). The tools we use are based upon price patterns, indicators and other proprietary measures that we have identified as correlative to future market trends. While an investor or trader could come up with ideas and strategies from the information published in our reports, at no time should a reader or viewer be justified in inferring that any such advice is intended by this publication or our other services. We are not offering investing advice, but are only offering some (but not all) of the information that can be used in the investment decision making process with your own personal financial adviser. Investing carries risk of losses. Information provided by Robert D. McHugh’s Market Forecasting and Trading Report is expressed in good faith, but it is not guaranteed. The market service that never makes mistakes does not exist. Long-term success trading or investing in the markets demands recognition of the fact that error and uncertainty are part of any effort to assess future probabilities. Please ask your broker or your adviser to explain all risks to you before making any trading and investing decisions. Information contained herein is believed to be reliable, but the publisher cannot be held liable for errors or omissions. No specific advice can be construed from the following. The reader is solely responsible for all actions taken. Please refer also to our disclaimer in the back of the newsletter from which this Executive Summary is derived. Copyright c 2019 Robert McHugh