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The Triumphant Core Four

NYSE Internals
Moving Averages
Professional Selling
Investor Sentiment

Special Bulletin: May 31, 2024 (10am Update)


The Downgrade Happened / Thank You Lord for Grandpa Brooks

Our Current Market Outlook was downgraded to “Uptrend Under Pressure” with a yellow light as of 10:30am on 05/29/24 (with the SPX @ 5,277.66) as seen on our Linked-In and C.M.O. posts that day. While the S&P500 and Nasdaq indexes are still holding above their 50-day mav’s, the Dow Jones Industrial Average has slipped under its own. Additionally, certain technical indictors (the math of the market) are beginning to show developing weakness under the surface. Prepare for a possible sharp price reversal on the main indexes that drops them back to their 50-day mav’s on big volume (distribution) soon. Our Core Four has deteriorated to 2 yellow and 2 red lights. The VIX remains barely under its own 50-day mav. Rates are rising again as the economy is slowing which means stocks may stall.

In our last post we wrote, “The stock market is VERY near moving back to a yellow condition but as long as the major indexes stay above their short-term 10-day mav’s, and the VIX remains below its 50-day mav, the trend is still up, and the light stays green. While the general stock market indexes are holding their 21 and 50-day mav’s, the number of daily new lows on the NYSE has crept up a bit and the advance/decline line has gently slumped. These 2 points are minor for now but are being monitored for further weakness.” The first part came to pass and a downgrade happened. We continue to closely monitor the internals for a possible move to red, or for a move back to green IF the market likes today’s PCE numbers and bolts higher. Be flexible but cautious.

On a somber note, we remember the life of our dear relative and friend, Mr. Earl Brooks. Please consider praying for our family as we lay his body to rest today. “Thank you, Jesus, for the impact he has had on so many of us.”

“For the Lord Himself will descend from heaven with a shout, with the voice of the archangel and with the trumpet of God, and the dead in Christ will rise first. Then we who are alive and remain will be caught up together with them in the clouds to meet the Lord in the air, and so we shall always be with the Lord.” 1 Thessalonians 4:16-17 NASB 1995

Game plan: The market must hold now, today, or else run the risk of a sharp decline to the 50-day mav’s. Prepare an exit strategy in case that support level fails. An early, independent sell signal (based on NYSE new lows) flashed earlier this week. Pray for the peace of Jerusalem (Psalm 122:6-7). May they prosper who love her.

Note: You can learn more about The Triumphant Core Four risk management system by clicking here.

Have a Triumphant day! ® 

The information in this article is based on data obtained from recognized services and sources and is believed to be reliable. Any opinions, projections or recommendations in this report are subject to change without notice and are not intended as individual investment advice. Not to be used as legal or tax advice. ©2024 Triumphant Portfolio Management, LLC.

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