While growth proceeds fast and furiously, the engine of the economic modern family sits idle | Mish’s Market Hours

adminJanuary 22, 2024

Let’s get started right away. The charts and tools speak for themselves.

To start, always look at moving averages and steps. We then look at Real Motion and Momentum to see if there is a difference in price. Then, compare it to benchmarks to see leadership metrics that tell you how your equipment is performing. Look at weekly, monthly charts, as well as daily charts. And now that it’s relevant, we also look at calendar ranges. (See the video we recently made for StockCharts.)

Naturally there are a few other considerations, but we can proceed with this for now.

Russell 2000 or Granddad IWM

Daily moving averages are bullish. The momentum indicator shows that there is no difference because momo is at the moving average, as is price. Leadership is weak and performance is well below benchmarks. Sustainable?

The weekly chart shows the price against key support between 183-188. The monthly chart shows a two-year business cycle extension (above the 23-month MA) with resistance at the December 2023 high. The calendar range shows prices at the January lows or the all-important 190.

So, it’s either a very low-risk purchase or a fair warning, especially if you consider the following:

Take a look at IWM’s efforts to keep up with growth.

This is the daily chart of Granny Retail XRT. The similarities between XRT and IWM are clear.

Daily moving averages are bullish. Real Motion shows that there is no difference as momentum, like price, is located at the moving average. Leadership is weak and performance is well below benchmarks.

The weekly chart shows the price against key support levels between 64-68. On the monthly chart, the price is above the 23-month MA for the first time since 2021, but still far from the December 2023 high. The calendar range shows the price at the January low or the all-important 68.00.

Both Gramps and Granny are important components to markets and the economy. Both reflect legitimate hesitation about predicting the Fed’s next interest rate move. Although both are underperforming growth stocks, they still have great support.

I hope this gives you some guidance for this week. It definitely helps me because I keep a close eye on it. all clear Now, QQQ and semiconductors in the entire market have developed fast and furiously.

When it comes to Sister Semiconductors, she’s as much a part of the family as biotech, community banking, transportation and Bitcoin. They all have a similar pattern to the Gramps IWM and Granny

This is for educational purposes only. Trading involves risk.

If you are having trouble implementing the MarketGauge strategy or would like to see how we can help you do it, please email Ben Scheibe. Benny@MGAMLC.com, Head of Institutional Sales. Cell phone: 612-518-2482.

Contact us for detailed trading information on mixed models, tools and trader training courses. Rob QuinnContact our top strategy consultants.

Money Show is running a special promotion for speakers. So that all my followers can get a standard pass to the Las Vegas MoneyShow. Only $99!!!!

Traders World Fintech Awards

Get your copy Plant a Money Tree: How to Increase Wealth.

Increase your wealth and plant a money tree today!

“I grew a money tree, and you can too!” – Misch Schneider

Follow Mish on X @market Minute for stock recommendations and more. Follow Mish on Instagram at mishschneider for daily morning videos. Click here to view updated media clips..

In this video from CMC Markets, Mish takes a look at a variety of popular products and outlines possible directions of travel.

Mish joins Jason Perz. against all odds In her playlist she covers all about the mental game of trading, commodities, futures, stocks, technical analysis and macros.

Mish’s Market Hours StockCharts TV Earnings, Everything New! Mish and Geoff Bysshe share how the powerful “Calendar Range” StockChartsACP plugin tells you who and what to believe, when to act, and what to trade. The new year is a big emotional “reset,” and January sets the tone for the next six months and the year ahead. Every month is like an inning in baseball. Financial reports focus on quarters, but analysts think in terms of the first and second halves. How can you use this knowledge to your benefit? Watch to find out!

Mish presents a three-part market outlook in a video from CMC Markets. First, in just four and a half minutes, Mish provides a thorough outlook on which areas to invest in in 2024. She then examines whether the S&P 500 can continue to rebound, and finally whether 2024 could be the year of heavy metals.

Mish appeared on CMC Markets to offer his thoughts on several commodities ahead of the release of US CPI data.

In this video from CMC Markets, Mish continues his analysis of gold, oil and gas, this time adding outlook for the dollar/yen currency pair and the dollar long term.

Mish appears on Business First AM to talk about how the January effect will play out and how to focus on vanity trading.

Mish covers oil, gold, natural gas, silver, and sugar and teaches you how to use charts to determine short-term trading strategies in this video from CMC Markets.

Mish and Maggie Lake discuss inflation (taking into account the wage component of the salary report), Bitcoin (taking into account the impending deadline for ETF news), market outlook, small-cap stocks, and emerging markets in this video from Real Vision.