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The House of Representatives approved an amendment — with help from several Democrats — late Wednesday that would prevent the Department of Energy (DOE) from implementing strict new regulations on gas stoves that most stoves on the market today would not be able to meet.

The House voted 251 to 181 in favor of the amendment from Rep. Gary Palmer, R-Ala., to a larger energy policy bill, and 29 Democrats voted with the GOP.

Republicans have been looking to defend the use of gas stoves ever since the Consumer Product Safety Commission indicated it could ban stoves for health reasons. That idea was scrapped, but it was followed by a proposed DOE regulation that would impose tough new energy efficiency standards for gas stoves.

Palmer, head of the House Republican Policy Committee, criticized House Democrats for largely voting against his amendment in comments to Fox News Digital.

‘Despite all their words to the contrary, House Democrats are supportive of federal bureaucrats’ attempts to ban gas stoves. By voting against my amendment to prevent the Department of Energy from implementing its anti-natural gas agenda, they have shown themselves to be complicit,’ Palmer told Fox News Digital.

‘Clearly, the plan to ban gas stoves was already in the works even before federal bureaucrats said the quiet part out loud earlier this year,’ he said. ‘Republicans are meeting this attempt to dismantle American energy head on and will continue to empower Americans to choose what appliances belong in their kitchens, not have it dictated to them by a bureaucrat with a political agenda.’

In a proposed rule posted online last month and a followup analysis of that rule, the department estimated that about half of the gas stoves on the market today would not meet the new standard.

Palmer’s amendment, if implemented contingent on Republicans’ energy bill’s passage, will stop DOE Secretary Jennifer Granholm from implementing the new regulations and would prevent similar rules from being introduced.

About 38% of American households, or roughly 40 million, use natural gas to cook in their homes.

Two similar bills to halt the rule’s implementation were introduced by House Republicans earlier this month.

This post appeared first on FOX NEWS

Sen. John Kennedy, R-La., surprised the head of Homeland Security on Wednesday when, after a tough exchange over Second Amendment rights, he gave him a pat on the shoulder and a firm handshake on his way out.

Kennedy questioned Homeland Security Secretary Alejandro Mayorkas at a Senate Appropriations subcommittee hearing about his support for an assault weapons ban, a day after he had quizzed him on the same subject and had been unsatisfied with his answers.

Mayorkas again backed an assault weapons ban and deferred to the definition previously in legislation banning such weapons in the 1990s — but he did not provide one of his own.

‘Senator, I must defer to the experts with respect to the definition. But I will tell you, for example, military-style weapons are a tremendous concern. We are seeing too much devastation,’ he said, speaking just days after a school shooting in Nashville, Tenn.

Kennedy was unhappy with the answer.

‘You made a very bold statement very firmly saying we should ban all assault weapons. And all I’m asking is what in your mind is an assault weapon? You say it’s military style. Does that mean it looks like a military weapon?’ he said.

Mayorkas was done however: ‘Senator, I think I have addressed your question to the best of my abilities.’

But Kennedy continued.

‘But you haven’t. I’m trying to understand. You’re secretary of the Department of Homeland Security and, as is your right as an American, you believe we should ban assault weapons. But it bothers me you can’t tell me what you would ban,’ he said.

Mayorkas later said he had come to ‘testify to this committee and not take an examination with respect to questions that I have already answered to the best of my ability.’

After the tough questioning, Mayorkas turned to Sen. Jeanne Shaheen, D-N.H., who asked about temporary worker visas.

As Mayorkas was answering the question, Kennedy approached him from behind, patted him on the shoulder and shook his hand firmly — appearing to add ‘Thank you for your service.’

Mayorkas appeared somewhat startled by the unusual move, but thanked him, before saying ‘excuse me’ to Sen. Shaheen and continuing his remarks.

The moment marked a brief friendly gesture amid what has been a battering for Mayorkas by Republican lawmakers in both the House and the Senate who have expressed their fury about the ongoing migrant crisis at the southern border and the flow of fentanyl into the U.S.

Multiple lawmakers told Mayorkas he should resign or be fired, while Sen. Ted Cruz accused him of being ‘willing to allow children to be raped to follow political orders.’

Mayorkas immediately slammed the remarks as ‘revolting’ and a DHS spokesperson later followed up with a statement backing the secretary after the particularly angry exchange.

‘Secretary Mayorkas is proud to advance the noble mission of this Department, support its extraordinary workforce, and serve the American people. The Department will continue to enforce our laws and secure our border, protect the nation from terrorism, improve our cybersecurity, all while building a safe, orderly, and humane immigration system. Instead of pointing fingers, Congress should work with the Department and pass legislation to fix our broken immigration system, which has not been updated in over 40 years,’ the spokesperson said.

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Longtime Boston civil rights activist Mel King, whose 1983 campaign for mayor helped the city begin to repair some of the racial divisions sparked during the school busing crisis, has died. He was 94.

King served in the state Legislature for nearly a decade before becoming the first Black man to reach a Boston general mayoral contest, facing off against a fellow state representative, Ray Flynn.

Gov. Maura Healey ordered flags to be flown at half-staff at all state buildings Wednesday, acknowledging the death of King, whom she described as a ‘dedicated public servant and civil rights champion.’

The election was a test for the city, which had undergone years of strife following the court-ordered desegregation of the public schools in the mid-1970s. Flynn, who represented the predominantly white, Irish neighborhood of South Boston, was an opponent of busing.

But instead of reigniting the discord, the race had the opposite effect, being seen as respectful, even friendly at times.

King brought in support from a range of racial groups, dubbing his movement the ‘Rainbow Coalition’ — a name adopted by the Rev. Jesse Jackson during his presidential campaigns.

‘What I believe people want more than anything else is a sense of a vision that’s inclusive and respectful and appreciative of who they are. What the Rainbow Coalition did was to put that right up front because everybody could be a member,’ King said in a 1993 interview with The Boston Globe.

Mayor Michelle Wu, the first woman and first person of color elected to lead Boston, offered condolences to the family of King, saying ‘his transformative ideas have shaped generations of organizers and leaders.’

Flynn said he first met King, who grew up in the city’s racially mixed South End, when the two played basketball as teenagers.

He said he felt an affinity for King, noting their shared working class roots and collaborative work as state lawmakers.

‘Mel King would be fighting for affordable housing for the people of the South End and Roxbury, and I would be doing the same for the people of South Boston,’ Flynn said. ‘We were just two kids from the neighborhood who fought hard for our constituents.’

King would go on to lose to Flynn by 30 points. But the race came to be seen as a turning point in a city once described as a collection of ethnic enclaves.

Those divisions boiled over during the busing crisis, with South Boston High School becoming the center of racial strife as Black students were bused to the school under a court-ordered desegregation plan.

During the height of the crisis, crowds sometimes threw stones at buses carrying Black students, and police were stationed on rooftops near the school.

‘The city was polarized. It was divided,’ Flynn said. ‘Busing really brought out the worst in the city of Boston. The election brought out the best. People all felt they were part of new opportunities.’

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The Justice Department charged two more people on Wednesday for carrying out a targeted attack on a pro-life pregnancy center in Winter Haven, Florida.

The DOJ announced that a federal grand jury returned an indictment against Gabriella Oropesa and Annarella Rivera for engaging in a conspiracy to prevent employees of reproductive health services facilities from providing those services, along with co-conspirators Caleb Freestone, 27, and Amber Smith-Stewart, 23, whom DOJ charged in January.

The crew allegedly targeted a pro-life pregnancy center and vandalized those facilities with spray-painted threats, including, ‘If abortions aren’t safe than [sic] neither are you,’ ‘YOUR TIME IS UP!!,’ ‘WE’RE COMING for U,’ and ‘We are everywhere,’ on the building.

Those messages are consistent with those that the far-left group, Jane’s Revenge, took credit for leaving spray-painted on pro-life centers after vandalizing dozens of them following the leaked Supreme Court decision in the Dobbs v. Whole Women’s Health case that eventually led to the overturning of Roe v. Wade last summer.

DOJ said similar facilities in Hollywood and Hialeah, Florida, were also allegedly targeted.

DOJ is accusing Rivera, along with Freestone and Smith-Stewart, of violating the Freedom of Access to Clinic Entrances Act, or FACE Act, by using threats of force to intimidate and interfere with the employees pro-life center in Winter Haven that were providing or seeking to provide reproductive health services, and by intentionally damaging and destroying the facility’s property because the facility provides reproductive health services.

The FACE Act makes it a federal crime to use or threaten to use force to ‘injure, intimidate, or interfere’ with a person seeking reproductive health services, or intentionally damage a facility that offers reproductive health services.

If convicted, Rivera, Freestone and Smith-Stewart each face up to a maximum of 12 years in prison, three years of supervised release and fines of up to $350,000. Oropesa faces up to a maximum of 10 years in prison, three years of supervised release and a fine of up to $250,000.

Florida’s Republican Attorney General also filed a similar state action against Freestone and Smith-Steward on Wednesday, citing FACE Act violations for which the state should impose up to $140,000 fines each.

‘Antifa and Jane’s Revenge are criminal organizations and must answer for their crimes in Florida,’ Attorney General Ashley Moody told Fox News Digital. ‘I am taking action to hold their members accountable for attempting to intimidate and threaten law-abiding citizens in our state.’

This post appeared first on FOX NEWS

The Minneapolis City Council is set to hold a special meeting Thursday to discuss a potential settlement in a lawsuit filed by the Minnesota Department of Human Rights over the city’s policing practices following the murder of George Floyd.

City and state officials had been negotiating the agreement, in fits and starts, since the state agency issued a scathing report last year that said the police department had engaged in a pattern of race discrimination for at least a decade. The city and state then agreed to negotiate a court-enforceable agreement known as a consent decree, moving to address the long list of problems identified in the report.

Few details about the closed meeting have been released. Mayor Jacob Frey, in a letter to the council, said he was calling the gathering for the purpose of ‘receiving a briefing’ on the state’s lawsuit. Spokespeople for the mayor did not immediately return calls Wednesday.

A spokesman for Human Rights Commissioner Rebecca Lucero declined to provide details Wednesday and Gov. Tim Walz declined to say much when asked at a news conference held on a different topic.

‘This is the Minnesota Department of Human Rights,’ Walz said. ‘I’m not going to speak on this. These are classified agreements that they’re working on together, and again, the goal there is just to make sure that our communities are safer and they’re working together, and I know a lot of work’s been into that.’

The city is also awaiting the results of a similarly sweeping federal investigation into whether the police department has engaged in a ‘pattern or practice’ of unconstitutional or unlawful policing. The Justice Department launched its probe a day after former officer Derek Chauvin was convicted of murder and manslaughter in the May 25, 2020, killing of Floyd.

The Black man repeatedly said he couldn’t breathe, then went limp as Chauvin knelt on his neck for 9 1/2 minutes. The killing was recorded by a bystander and sparked months of mass protests across the country and around the world as part of a broader reckoning over racial injustice.

Chauvin is serving 22 1/2 years on his state murder conviction. He later pleaded guilty to a separate federal charge of violating Floyd’s civil rights and was sentenced to 21 years. The sentences are running concurrently.

The federal investigation is expected to lead to a separate court-enforceable consent decree. The city and state would then modify their agreement to resolve any conflicting provisions.

The state report, issued in April 2022 after a two-year investigation, detailed evidence showing disparities in how officers use force, stop, search, arrest and cite people of color, particularly Black people, compared with white people in similar circumstances.

The report blamed, in part, the culture of the police force, saying officers ‘receive deficient training, which emphasizes a paramilitary approach to policing that results in officers unnecessarily escalating encounters or using inappropriate levels of force.’ City officials disputed a portion that accused police of using ‘covert, or fake, social media accounts to surveil and engage Black individuals, Black organizations, and elected officials unrelated to criminal activity, without a public safety objective.’

The Department of Human Rights sued the city and the police department in June 2020, barely a week after Floyd was murdered, and obtained a preliminary injunction, pending completion of its investigation, that compelled the city to address the allegations of systemic and institutional racism within the police department. Among the immediate changes were a ban on the use chokeholds and neck restraints and a requirement that officers try to stop other officers they see using improper force.

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A state lawmaker has made a procedural move that could force a vote in the Ohio House on a proposal to make it more difficult to amend the Ohio Constitution, a change that could impact an effort under way by abortion rights advocates.

Republican state Rep. Susan Manchester pulled a discharge petition Wednesday that, if successful, would allow the resolution raising the threshold for passing future constitutional amendments to bypass the normal committee process — and GOP House Speaker Jason Stephens. To do so would require the signatures of 50 of 99 members of the fractured Ohio House.

‘We have gone through all the regular steps necessary in committee to pass this, and we are being blocked at every turn,’ Manchester said. ‘Time is of the essence. We need to ensure that we have a vote on this issue.’

The proposal in question would ask voters to change the state constitution to require a 60% supermajority of Ohio voters to approve future amendments, rather than the current simple majority of 50% plus one.

Manchester and the issue’s other backers say that the higher threshold would keep monied, out-of-state special interests from manipulating Ohio’s founding document. Internal communications have also shown they are hoping to use the higher bar to thwart efforts to pass constitutional protections for abortion rights and to reform the state’s failed political map-making system.

About 200 labor, faith, voting rights and civil rights organizations have banded together pledging to fight the 60% threshold measure, as have Democrats who supported Stephens in his surprise victory for speaker.

House Democratic Leader Allison Russo criticized the maneuver.

‘Ohioans deserve to know the truth that there are some out-of-touch, extremist politicians who are beholden to special interest groups behind this petition,’ she said in a statement. ‘They will do whatever it takes, including rewriting the rules, so they can get what they want instead of what the people of Ohio want.’

The discharge petition comes after two earlier attempts by Republicans to push the amendment to the 2023 ballot have been stymied. It first arose during last year’s lame duck session, but fizzled for lack of time. Then, amid GOP infighting, Stephens put the brakes on fast-tracking it earlier this year, causing it to miss a deadline for the May ballot.

Meanwhile, Republican Senate President Matt Huffman has expressed his support for the issue, and he suggested a strategy of reviving August special elections — eliminated in legislation passed just last year — to do so. Stephens is opposed to turning back such a recently passed law, and he has said county officials dislike special elections, which are expensive.

‘Unfortunately, he has shown no interest in moving this issue foward, and that’s why I think it’s important that we, as majority Republicans, show him how important we think this is with this petition,’ Manchester said.

She said she had 24 signatures at the end of the day Wednesday, and was confident she would reach her goal.

This post appeared first on FOX NEWS

EXCLUSIVE: Two Republican congressmen are demanding that the Department of Justice investigate Monday’s shooting that left six dead at a private Christian school in Nashville as a hate crime.

The Nashville Police Department said that Audrey Hale entered The Covenant School by shooting through a locked glass door around 10:13 a.m. on Monday morning and was armed with two rifles and a handgun.

Three students, all 9-years-old, were killed during the shooting: Hallie Scruggs, Evelyn Dieckhaus, and William Kinney. Three employees at the school were also killed: headmaster Katherine Koonce, 60, substitute teacher Cynthia Peak, 61, and custodian Mike Hill, 61.

Hale, a 28-year-old transgender who was a former student at The Covenant School, was killed after she began firing at responding officers.

Law enforcement officers found writings and hand-drawn diagrams of the school which indicate that the shooting was ‘calculated and planned.’

In a letter to Attorney General Merrick Garland, Rep. Lance Gooden, R-Texas, and Rep. Andy Ogles, R-Tenn. said that the Department of Justice needs to open a hate crime investigation into the shooting at The Covenant School.

‘This week, America watched while a mentally ill shooter brutally massacred Christian schoolchildren in Nashville, Tennessee. This murderer, identified by law enforcement as Audrey Hale, shot and killed six people—three students, Evelyn Dieckhaus, Hallie Scruggs, and William Kinney, and three employees Cynthia Peak, Katherine Koonce, and Michael Hill—while they studied and worked at The Covenant School. Police reports confirmed what many Americans already suspected. This attack was a targeted assault on American Christians,’ the congressmen wrote.

The pair of congressmen also called it ‘appalling’ that one hasn’t been opened yet.

‘Federal law is clear, acts of violence against individuals based on religious affiliation are hate crimes,’ Gooden and Ogles wrote in the letter. ‘The [shooter] was a former student at Covenant school and specifically chose to terrorize this school because of their Christian faith. It is appalling that you have not yet committed to opening a hate crime investigation despite the shooter’s motive being as clear as day,’ they wrote.

‘We urge you, as head of the Department of Justice, to immediately offer the full resources of federal law enforcement to the victims and community of this attack and open a hate crime investigation. Additionally, we urge you to forcefully condemn anti-Christian bias to send an unambiguous message to all Americans that discrimination against any community is unamerican and will not be tolerated. Further, we would ask that you update us regularly as to what steps the Department has taken to address our concerns. Thank you for your attention to this important matter,’ they added.

Gooden said that the shooting should be labeled a ‘crime of hate.’

‘The direct targeting of Christian schoolchildren must be labeled for what it is: a crime of hate designed to mutilate and massacre believers in Christ and chill religious practice in America. The full weight of the federal government must be unleashed, and determinations made about how this crime took place, and who influenced this deranged transgender individual to cut down America’s Christian children at their desks,’ Gooden said.

Ogles described the shooting as a ‘senseless slaughter.’

‘The shooter at The Covenant School in Nashville committed a heinous hate crime that should not be tolerated. She specifically targeted the Christian place of education she once attended and stole the lives of six innocent people,’ Ogles said. ‘Attorney General Garland and the Department of Justice need to act swiftly to investigate this disturbingly senseless slaughter. This was not a ‘cry for help,’ it was an act fueled by hate.’

In a Tuesday statement, The Covenant School said that their ‘community is heartbroken.’

‘We are grieving tremendous loss and are in shock coming out of the terror that shattered our school and church. We are focused on loving our students, our families, our faculty and staff and beginning the process of healing,’ said the Covenant School.

The Department of Justice didn’t immediately respond to a request for comment from Fox News Digital.

This post appeared first on FOX NEWS

In this week’s edition of Trading Simplified, Dave delves into why traders need patience, especially during less-than-ideal conditions. He discusses the fact that patience “gets used up” and why we must be vigilant not to give into temptations such as boredom, wants, needs, and other extraneous influences. He then discusses market timing, with a focus on the TFM 10% system’s potential in the Qs.

This video was originally broadcast on March 29, 2023. Click anywhere on the Trading Simplified logo above to watch on our dedicated show page, or at this link to watch on YouTube. You can also watch this and past episodes on the StockCharts on-demand video service StockChartsTV.com — registration is free!

New episodes of Trading Simplified air on Wednesdays at 12:00pm ET on StockCharts TV. You can view all recorded episodes of the show at this link. Go to davelandry.com/stockcharts to access the slides for this episode and more. Dave can be contacted at davelandry.com/contact for any comments and questions.

We have written lots of Dailys, not to mention talked a lot in media, about the significance of the 23-month moving average. Here are some past comments:

What has happened in the last 2 years? A bullish run in 2021 based on easy money. Inflation running hotter than most expected.

The banks were caught off guard, and by 2022, the party was over.

So, that begs the question of why this year’s 23-month moving average is one of the most important indicators for equities.

In general, the business cycle consists of four distinct phases: expansion; peak; contraction; and trough. And it takes about 4.7-5 years to run through the cycle. However, in the spirit of our new paradigm, or rules that are square pegs fitting into round holes, we must ask:

Was Covid the trough?Was the expansion in 2021?The peak January 2022?The trough in October 2022?And now, 2 years later, expansion again?

No need to stress about that, though–we just need to watch the charts.

With only 2 more days until the end of the month and the quarter, we see one area potentially expanding further, while the key index SPY, has more to go. Plus, we have learned from the past; chip stocks can lead only so far before they run out of gas from pulling the economic boat all by themselves.

The 23-month moving average, or just shy of a 2-year business cycle, speaks volumes. The Semiconductor ETF SMH is clearing the 23-month MA assuming it can stay above that level through the end of the day this Friday. If SMH sells off from here, failing the blue line, well, that would be very informative, not to mention embolden the bears. However, if SMH does indeed close above the blue line, what might be expected as we start the 2nd quarter?

The SPY chart tells us a different story. SPY remains rangebound somewhere between 380-405. Over 405, it could run to 420–the moving average resistance.

Maybe SMH is at 265-270 if SPY gets to 420–but then what? For now, with yields higher, anything is possible. However, I would respect how this month closes relative to the MAs.

Expansion can begin with tech and trickle down to other sectors. Or tech could just as easily reverse course in these skittish times.

Register for free for Real Vision’s Festival of Learning! A treasure trove of experts to answer your questions.

For more detailed trading information about our blended models, tools and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.

IT’S NOT TOO LATE! Click here if you’d like a complimentary copy of Mish’s 2023 Market Outlook E-Book in your inbox.

“I grew my money tree and so can you!” – Mish Schneider

Get your copy of Plant Your Money Tree: A Guide to Growing Your Wealth and a special bonus here.

Follow Mish on Twitter @marketminute for stock picks and more. Follow Mish on Instagram (mishschneider) for daily morning videos. To see updated media clips, click here.

Mish in the Media

In this appearance on CMC Markets, Mish gives you clear actionable information to support why commodities look to go higher from here.

Mish talks looking for stock market opportunities on Business First AM.

Mish discusses long bonds, Silver to Gold and the Dollar in this appearance on BNN Bloomberg.

Mish sits down with Kristen on Cheddar TV’s closing bell to talk what Gold is saying and more.

Mish and Dave Keller of StockCharts look at longer term charts and discuss action plans on the Thursday, March 17 edition of StockCharts TV’s The Final Bar.

Mish covers current market conditions strengths and weaknesses in this appearance on CMC Markets.

Mish sees opportunity in Vietnam, is trading SPX as a range, and likes semiconductors, as she explains to Dale Pinkert on ForexAnalytix’s F.A.C.E. webinar.

Mish and Nicole discuss specific stock recommendations and Fed expectations on TD Ameritrade.

Coming Up:

March 30th: Your Daily Five, StockCharts TV

March 31st: Festival of Learning Real Vision “Portfolio Doctor”

April 4th: The RoShowPod with Rosanna Prestia

April 24-26: Mish at The Money Show in Las Vegas

May 2-5: StockCharts TV Market Outlook

ETF Summary

S&P 500 (SPY): Nice job SPY; 400 pivotal.Russell 2000 (IWM): 170 support, 180 resistance.Dow (DIA): 325 pivotal.Nasdaq (QQQ): 305 support, 320 resistance.Regional Banks (KRE): Weekly price action more inside the range of the last 2 weeks.Semiconductors (SMH): After testing 250, SMH sprouted Wonder Woman wings.Transportation (IYT): 223 now resistance with 219 key support.Biotechnology (IBB): Cleared the 200-DMA at 127, so now needs to hold it.Retail (XRT): Still weakest besides KRE as far as Economic Modern Family, so, if rally holds, it has to be with Granny in it. 60 key support.

Mish Schneider

MarketGauge.com

Director of Trading Research and Education

A driver who goes with the flow of traffic and adjusts to traffic conditions usually gets places in good time and safely. Similarly, a good trader who trades in sync with price action is likelier to make better trades and preserve more capital.

The key: Recognize price movement and take advantage of the move. When you see a clear move in one group of stocks, identify the top performers and make your way into that lane. When the momentum slows, you may want to exit your position and join the next moving group. But that doesn’t mean you should constantly move in and out of stocks; it pays to be patient and ensure the odds are in your favor before bailing or jumping in.

Identifying the Movers and Shakers

There are different ways to identify groups of stocks that are moving. Technical analysts can choose to identify trends, turning points, and/or investor sentiment using the appropriate indicators. In addition to focusing on a handful of indicators, it may also help to keep an eye on volume.

In his book Technical Analysis Explained, Martin Pring states that volume often moves ahead of price. So an increase or decrease in volume could be an advance warning of a potential price trend reversal. If you think about it, volume gives you an idea of whether traders are bullish or bearish. If price moves up on strong volume, it’s generally an indication of bullish momentum. And when the volume starts falling, it could be a signal that the upward price movement is slowing down.

Combining volume with price movement can help identify developing trends and the end of a trend. Open up a long-term chart of your favorite stock and see how volume and trend move. The chart below looks at recent price movement in Microsoft (MSFT)’s stock price. Note the exponential rise in volume when price hit a high in the short-term move. After that, volume fell as the stock price traded sideways. If volume expands when price starts moving in a clear direction, it could indicate the strength of the next move.

CHART 1: VOLUME AND PRICE ACTION. Volume and price expand until it spikes at a short-term high. After that, volume drops as price moves sideways. Think of volume as a barometer for the next price move.Chart source: StockCharts.com. For illustrative purposes only.

You can do a similar volume and price analysis with different stocks by going back further in time. Better yet, analyze volume action in different groups of stocks, such as the S&P Sector ETFs. The CandleGlance tool on the StockCharts platform gives you a bird’s eye view of the different sectors.

How to Access It

From the Member Tools on Your Dashboard or from the Charts & Tools tab.Select S&P Sector ETFs from the Predefined Groups dropdown menu. You’ll see charts of all 11 ETFs and a chart of the S&P 500 index ($SPX).Select chart duration and indicator. There are different volume indicators you could use, such as Rate of Change (ROC), On-Balance Volume (OBV), Accumulation/Distribution, the Force Index, and so on. In the chart below, the OBV is added with an overlay of its 20-day simple moving average.

You can customize your CandleGlance charts and save it as a ChartStyle. That way your settings will automatically appear on the CandleGlance charts—major timesaver.

The recent regional bank crisis is an example of how investors started pulling out of the banking sector and moving their capital to other sectors. If you add a volume indicator such as OBV to the charts, some interesting observations surface.

CHART 2: CHARTS AT A GLANCE. The CandleGlance chart of the S&P Sector ETFs with a volume indicator of your choice (OBV was used here) helps to see where the rotation occurs.Chart source: StockCharts.com. For illustrative purposes only.

The OBV suggests that money is moving into the market, but only in some sectors. “The inflows are more concentrated on the large caps and specific sectors, and not the broad market,” said Buff Dormeier, CMT, chief technical analyst at Kingsview Partners.

What’s more interesting is how much money was flowing into the market. “In the week of March 13, the S&P 500’s capital inflows were $90 billion, the highest inflows in nearly 10 years,” added Dormeier. “Capital outflows totaled $36 billion and, if you take them together, it was the largest since March 2020, which was at the onset of the pandemic.”

The following week saw a similar trend. “In the week of March 20, cap-weighted inflows surpassed outflows with $30.5 billion out to $50 billion flowing in,” Dormeier continued.

Where Are the Inflows and Outflows? 

The CandleGlance view helps to see which sectors are experiencing the greatest outflows and which ones are experiencing significant inflows. Communication Services (XLC) and Technology (XLK) are seeing significant inflows, whereas Real Estate and Financials are seeing significant outflows. 

Generally, a falling interest rate environment helps growth stocks, and money is flowing into large-cap growth stocks and out of small- and mid-caps. Does that mean investors expect the Fed to stop raising rates soon? It’s possible, but let’s remember the other side of the coin. When money flows out of small- and mid-caps, it could mean that the underlying economy may not be stable. These are conflicting signals which means the market is still fickle.

Trading With the Flow

We’re not out of the woods yet. Even though volume in the stock market is increasing and the stock market seems like it wants to go up, it could change anytime. So, create your own CandleGlance charts so you always have a bird’s eye view of the market. When you see price action speeding up in one sector and slowing down in another, change lanes so you can keep up with price movement. Don’t rush, be patient, and, more important, be disciplined. It’ll get you where you want to go.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.