{"id":862,"date":"2024-02-10T00:05:38","date_gmt":"2024-02-10T00:05:38","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/02\/10\/visualizing-the-market-factors-panel-on-rrg\/"},"modified":"2024-02-10T00:05:38","modified_gmt":"2024-02-10T00:05:38","slug":"visualizing-the-market-factors-panel-on-rrg","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/02\/10\/visualizing-the-market-factors-panel-on-rrg\/","title":{"rendered":"Visualizing the Market Factors Panel on RRG"},"content":{"rendered":"
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With the release of the new Panels feature on the StockCharts dashboard, there are a lot of ways that users of RRG charts can take advantage! Let\u2019s take a close look at one in particular.<\/p>\n

Market Factors Panel<\/h2>\n

One of the most significant new panels available for users is the \u201cMarket Factors\u201d panel.<\/p>\n

This panel slices the S&P 1500 into nine segments broken down by size-value-growth. It is very similar to the one used in the RRG dropdown.<\/p>\n<\/p>\n

The only difference, and there is quite a distinct difference (as you will see), is that this panel uses S&P indices and only covers the S&P 1500 segments. Meaning the S&P 400, 500, and 600, along with its growth and value brothers and sisters.<\/p>\n

Two Key RRGs<\/h2>\n

Here is the RRG from the pre-defined list.<\/p>\n<\/p>\n

As you can see, I have ticked off the US Growth and US Value indexes, as they cover the entire market (all size segments) and the DJ US index, the benchmark on this graph.<\/p>\n

This is the RRG for the market factors using the same underlying ETFs as the Market Factors panel.<\/p>\n<\/p>\n

The RRG is linked (just click the image) to a live version on the site, which you can then save as a bookmark in your browser for later retrieval. I will also add this to the group of pre-defined universes.<\/p>\n

The benchmark for this group is the S&P Composite 1500 index ($SPSUPX).<\/p>\n

Same Approach, Different Images<\/h2>\n

Looking at these two RRGs, you can see that they are quite different from each other but, in the bigger picture, send a similar message.<\/p>\n

The differences are primarily caused by the different universes. The DJ groups hold 153 stocks in the large-cap index, 314 in the mid-cap index, and 610 in the small-cap index. So, especially in the large- and mid-cap segments, the S&P groups are much broader, which can have significant effects on the behavior of the indexes.<\/p>\n

I use these \u201cBig Picture RRGs\u201d from a very high level. This means I pay much more attention to the general rotations of the various tails vis-a-vis each other than to their exact locations on the RRG.<\/p>\n

One observation that I found quite interesting on the Market Factors Panel RRG is the location of the cluster of SPYG, SPY, and SPYV.<\/p>\n<\/p>\n

What you can learn from this cluster of tails is their positioning on the RRG and the relative positioning among the three of them.<\/p>\n

First of all, these are all S&P 500, so large-cap indices, and they are positioned to the right of the benchmark (S&P 1500) and thus in a relative uptrend. You can also see that inside the S&P 500 segment, growth is rapidly improving against value. The preference started to turn around some 5 weeks ago, when the growth and value tails started to curl.<\/p>\n

Much like the DJ version, albeit in a different location on the RRG, what you also see is that the mid- and small-cap groups for both the growth and value segments have started to roll over, some of them already at a negative heading. The only group still at a positive heading is large-cap Growth, and maybe mid-cap growth, though the latter is debatable as this tail is still inside the improving quadrant, but on flat momentum at the lowest RS-Ratio reading in the universe.<\/p>\n

This is something to ponder over the weekend, as it means that, once again, the foundation of the rally is getting narrower after an attempt of the mid- and small-cap groups to start participating. This attempt seems to fail, while the market continues to climb\u2026.. a \u201cWall of Worry?\u201d Only time will tell, but I believe there is reason enough to get more cautious, and risk is increasing every day.<\/p>\n

#StayAlert and have a great weekend. \u2013Julius<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

With the release of the new Panels feature on the StockCharts dashboard, there are a lot of ways that users of RRG charts can take advantage! Let\u2019s take a close look at one in particular. Market Factors Panel One of the most significant new panels available for users is the \u201cMarket Factors\u201d panel. This panel […]<\/p>\n","protected":false},"author":0,"featured_media":863,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/862","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=862"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/862\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/863"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}