What John Howell said in this video:
- Market Breadthnegative for stocksThe host calls the broad stock-market rally a sucker rally, says he is not buying it, and expects a reversal to the downside with a correction.Source
- IWMbearishOn the Russell daily chart the host points to a double top, a drop and a rally that remains a downward phase rather than an upward leg, so he does not buy the up leg and expects a move to the downside.Source
- QQQbearishThe host says the Nasdaq made a false breakout and remains on the downside in a downward leg, stressing that nothing has changed and the downward leg is still very strong.Source
- DIAneutralThe host notes a very strong up bar on the Dow but says it is still part of a sideways time phase; such phases are brutally volatile and full of fake outs, making excitement about the Dow dangerous.Source
- Market BreadthneutralThe host says the market is in a brutally volatile phase full of false breakouts that can chew traders up, so the right move is to step aside; he discloses that he and his elite group are not trading right now.Source
- SPYneutralThe host says the S&P 500 is still in an overall sideways phase with repeated false breakouts up and down, and warns that such brutally volatile phases are not to be traded.Source
- Oil & EnergyneutralThe host says oil had a drop but remains mid-range relative to the last 20 years, nothing has really changed, and he explicitly says he does not know about oil.Source
- XLEbullishThe host argues the energy-sector fund is different from oil: it has very nice upside movement, has already broken out of a level, and a pullback is nothing to be concerned about.Source