US equity markets again finished pretty much flat on Wednesday after another big up and down session (once again insert any reason for this that suits your fancy here). Despite the recent ‘volatile flat days’ the market internals are still showing little signs of improvements or even helpful consolidation – in fact quite the opposite is true with 2 more stocks triggering new bearish trends according to our trend analytics model (see more below)
With this volatility we have closed off 3 positions in our beta portfolios as follows;
And a reminder from yesterday where we noted
‘From our periodic notes over recent days and from the subscriber videos you are well aware by now that there has been significant technical internal deterioration going on for some weeks now and many S&P500 stocks have been turning technically bearish – a fact that at this stage remains well under the radar of the mainstream media – however as the bigger stocks start to roll over the price impact will become harder to ignore – but by then it will be too late’.
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Once again on Wednesday this underlying tone prevailed with 2 more S&P500 stocks turning intermediate bearish (again zero turned bullish!) according to our trend analytics model – today these two stocks were Proctor & Gamble (PG) and KLA-Tenor (KLAC Tencor). Accordingly we have added both Proctor & Gamble (PG) and KLA Tencor (KLAC) to our beta 3.0+ portfolio.
You can log-in to the open portfolio positions click here where you can see how each of these new bearish trend signals in these stocks have been leveraged into the portfolio.
*Please note that the information provided here is for information purposes only and should not be construed in anyway as advice of any sort. Please familiarize yourself our important disclaimers here before continuing.
Images: Flickr (licence attribution)