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CHART OF THE WEEK
|09/12/2022: The Chart of the Week for Good Morning Wall Street looks at the SPDR S&P 500 ETF (SPY). The focus is on bias and triggers. We note that the Bias Indicator on this chart is the Weekly DMA Channel (yellow band in the price chart). This week it has move barely above, but it is above, the indicator. Trigger indicators are the Erlanger Trend Direction (ETD) and EC Spread. ETD is still in a downtrend on a daily basis. EC Spread is also in a downtrend until it can move above its moving average (blue line). Last we look at Erlanger Volume Swing (EVS) that is negative at -7.46. but off its low of -31.46. The conclusion is we are just off the lows of September and need to see some more improvement. In the meantime, short positions should be evaluated and plan to do some covering here. In terms of longs, we would like to see some more improvement before starting to be a buyer unless you are dollar cost averaging over a period of time. In that case, this is not a bad time for that. .|
A LETTER FROM PHIL ERLANGER
I would like to welcome you to our website. www.goodmorningwallst.com. It has been a goal if mine since I started the Good Morning Wall Street website to expand and develop tools to help one become a better trader, investor or speculator. After a great deal of hard work, www.goodmorningwallst.com was developed to provide thorough technical research analysis to help you through teh market's progress.
This website is geared towards individuals investors and anyone seeking to gain advanced insights into the technical representations of the market. Each month we put out several market commentary in a variety of forms: software, videos, written reports and screens that offer unique investment advice driven off our work on short interest, options, seasonality and our proprietary technical indicators.
If you are a professional investor (and that includes financial advisors) we would direct you to www.erlangerresearch.com for a review of our offerings and to choose "Contact Us" to get set up on a trial to review our professional products. This site is for individual investors and traders only.
Every Monday we delve into what events will impact the markets with The Week Ahead and our Weekly Squeeze Screens. There is also access to a variety of seasonality screens on stocks in the S&P 100 and Dow Jones Industrial Average as well as ETFs.
Each month you will have access to our monthly newsletter which reviews big macro ideas as well as stock specific analysis.
As an added tool, use our StockWatcher to follow our indicators on your choice of ten stocks.
For an additional fee, members have access to our Erlanger Chartroom software product, an advanced program that exploits an advanced set of technical indicators and key stock data. Real time is available to eSignal subscibers..
We hope that you enjoy our enhancements to the website and become a member in the near future.
Philip B. Erlanger, CMT
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