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February 9, 2025

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IT Breadth Momentum (ITBM) and IT Volume Momentum (ITVM) Top – Participation Draining

3 Mins Read

We are currently in a declining trend in the market and internals are telling us that this weakness will continue to be a problem. Our primary indicators in the short- and intermediate-term have topped with one exception. The Swenlin Trading Oscillators (STOs) started down on Thursday and the STO-B continued to fall Friday. The STO-V interestingly turned up, but we wouldn’t get too excited.

The intermediate-term indicators, the ITBM and ITVM, topped and are moving down. It was an eye test on the ITBM on Thursday as to whether it had indeed declined. We checked and it had. Just another reason to look for more market decline.

Participation is leaking from the market. As price has started to turn over, so has participation. We note that participation readings of stocks above key moving averages shows declining trends which confirm near-term weakness.

The Silver Cross Index measures how many stocks have a 20-day EMA above the 50-day EMA (a Silver Cross). It is trying to top right now. We have a declining trend from the October top. With participation sinking, it won’t be long before this indicator tops too.

The Golden Cross Index measures how many stocks have a 50-day EMA above the 200-day EMA (a Golden Cross). That indicator has stagnated and is currently in decline below its signal line. Deterioration is visible on this chart.

Conclusion: We have a short-term declining trend in the market and failing internals. The ITBM/ITVM are declining, along with the STO-B. It is going to be very difficult for price to move higher when fewer stocks are participating.

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Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)

ITBM and ITVM

SCTR Ranking

Bear Market Rules

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In World news

Released Thai hostages return to Bangkok after being held for over a year in Gaza

2 Mins Read

Five Thai workers released after being held hostage for over a year in Gaza arrived in Bangkok on Sunday.

Sarusak Rumnao, 32, Watchara Sriaoun, 33, Sathian Suwannakham, 35, Pongsak Thaenna, 36, and Bannawat Saethao, 27, were freed on January 30 as part of an exchange arrangement.

They were embraced by family members, some of whom cried, in the arrivals hall at Suvarnabhumi Airport. Thai Foreign Minister Maris Sangiampongsa and the Israeli Ambassador to Thailand Orna Sagiv were both at the airport to welcome home the freed hostages.

“We are all very grateful and very happy that we get to return to our homeland. We all would really like to thank you. I don’t know what else to say,” Pongsak told a news conference at the airport.

Maris said the Thai government “never gave up hope and here is the result today. The tears of joy are our encouragement.” He added that Bangkok would continue working to secure the release of the remaining Thai hostage.

The group quickly left the news conference to return to their hometowns in Thailand’s northern and northeastern regions.

They were the second batch of Thai hostages released since the war broke out. During an earlier ceasefire in November 2023, 23 Thai nationals were released in a deal negotiated between Thailand and Hamas, with assistance from Qatar and Iran.

This post appeared first on cnn.com

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In Business

New Orleans prepares for Super Bowl 59, its biggest weekend of the year

2 Mins Read

New Orleans is preparing for an estimated 125,000 visitors and a presidential visit during the weekend of Super Bowl 59, as the reigning champion Kansas City Chiefs take on the Philadelphia Eagles at the Caesars Superdome.

Local businesses are ready, and hotel demand is surging.

Tripadvisor said demand for hotel rooms in New Orleans surged 637% this week as fans of the competing NFL teams scurry to find lodging. Interest from travelers in Pennsylvania and New Jersey has increased more than 14 times, and interest from people in Kansas and Missouri is up 8.5 times since the division championship games in the last week of January, the travel site said.

As of Thursday morning, the average hotel room was going for $650 per night, according to Hotels.com, which is owned by Expedia.

Caesars has the spotlight, however. Along with naming rights to the New Orleans Saints’ stadium, where the NFL championship will be played, Caesars also holds lucrative status as the only casino in New Orleans.

The company has rolled out the red carpet with a nearly half-billion-dollar overhaul of what was formerly a Harrah’s-branded property, and it is using the big game to introduce the brand to new customers.

The biggest football game of the year comes just weeks after a New Year’s Day attack that took place in the city’s French Quarter and killed 14 people, putting New Orleans on high alert.

Security around town is tight. State police, city police and the U.S. Department of Homeland Security all have a heavy presence.

At an NFL briefing on Monday, law enforcement said more than 700 different types of Homeland Security officials will be on the ground during the Super Bowl, and that was before President Donald Trump indicated plans to attend the game.

“I am confident that the safest areas to be in the country this weekend is under the security umbrella our team has put together,” said Cathy Lanier, the NFL’s chief security officer.

Since the Jan. 1 attack in New Orleans, NFL Executive Vice President Jeff Miller said the league has redoubled its safety efforts.

“We added resources, and we feel really good about where we are,” Miller told CNBC.

This post appeared first on NBC NEWS

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