Daily Power Snapshots – April 3rd, 2024
Daily Power Snapshots – April 3rd, 2024
Let’s Start Here
Daily Power Snapshots are a new morning review of the sector and subsector data spreadsheets that we post from time to time. This will be part of the elite memberships and will hit your inbox early for your daily preparation. These quickly show where each segment stands on the long, intermediate and short-term views from breadth and momentum perspectives. Also, keep an eye out for the weekend version where we put each snapshot for the week in a carousel so you can see how things changed as we progressed through the week.
Moving Average breadth has backed off, but not really seeing much damage yet from the current early week selling. Real Estate can’t seem to get going, and won’t until the concerns over interest rates going back up calms some.
RSI snapshot is also not too worried about the selling yet, but we will keep watching the change each day. Right now, we still have a chunk of subsectors on Nitrous, not exactly painting too tough a picture, more just ebb and flow for now.
New lows picked up again for the second week in a row. Last few weeks, buyers showed up after Tuesday, let’s see if they come in today and whether or not they press enough to grab back control.
Similar to what we saw last week, when they sell, they are pretty binary. Concerns over rate cuts are causing a lot of this, but it’s good to see the digestion after a strong move.
Even with the broad selling, Materials and Energy didn’t really care and continue to push. The strength was again commodity driven.
Sellers pushing the rest of the sectors and subsectors around. Health Care tried to stabilize last week, but caught heavy selling again yesterday. Some headlines and interest rate sensitivity put the pressure here today. Overall, this is like the last few weeks, now we wait and see if buyers come back in and grind things back up by the end of the week. If they don’t, maybe we finally have a chance for a more pronounced pullback. Time will tell.
This information is for educational purposes only and is not a recommendation. Please see the full disclosure in the footer.
As always, hope this helps!
20240403
Disclosures
The information contained on this site is provided for general informational purposes, as a convenience to the readers. Power-Investing.com is owned and operated by Flash Publishing and does not make recommendations to buy, sell or hold any securities. The materials are not a substitute for obtaining professional advice from a qualified person, firm or corporation. Consult the appropriate professional advisor for more complete and current information. Power-investing.com does not engage in rendering any legal or professional services by placing these general informational materials on this website.
All the information provided on the site is accurate to the best of our knowledge, however Power-Investing.com specifically disclaims any liability for any direct, indirect, incidental, consequential, or special damages arising out of or in any way connected with access to or use of the site, even if Power-investing.com has been advised of the possibility of such damages, including liability in connection with mistakes or omissions in, or delays in transmission of, information to or from the user, interruptions in telecommunications connections to the site or viruses.
Power-Investing.com makes no representations or warranties about the accuracy or completeness of the information contained on this website. Any links provided to other external sites are offered as a matter of convenience and in no way are meant to imply that The Company endorses, sponsors, promotes or is affiliated with the owners of or participants in those sites, or endorse any information contained on those sites, unless expressly stated.
G. Thomas Lackey Jr. is a registered investment advisor affiliate with Relativity Capital Advisors, LLC which does provide professional financial services including investment management, financial planning and business consulting for a fee. If you would like to learn more about any of these services please visit us at relativitycap.com and we will be happy to provide more information. Relativity Capital Advisors, LLC and portfolios managed or advised by G. Thomas Lackey Jr. may or may not own securities mentioned on the Power-Investing.com website