Our rally continues but one of the concerning breadth indicators the Zweig continues to fail in it confirmation. The A/D performance is just been choppy failing to send the Zweig into its overbought status, a sign of missing market breadth. We haven’t had one of those all out days here with a closing 9:1...
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This usually means a four day thrust is to occur here. It is unusual to have it fire when we are making new market highs.. Did me make a shallow correction in here? We have a positive tick, the Zweig closed strong.. There is underlying breadth momentum here.. news awaits tomorrow however so form...
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The tick correction I was looking for in the AM finished at around 12:15 and then began a slow and steady climb for the rest of the afternoon. That is bullish for tomorrows open but there is much news overnight and in the morning and news a l w a y s trumps indicators,...
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Even though this a day long accumulative indicator, already mid-day Wednesday they have all made enough new highs to issue a buy signal. All three (NYSE, NAZ, RUT in that order top to bottom) are now on their 4th day of higher highs. Again caution here.. we are at market highs and very unusual...
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It is unusual to get buy signals at new highs.. I need to do some more research but the indicators based on the last 4 days of breadth strength are signaling more upside here. Thank you for subscribing.
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All three indices (the NYSE, NASDAQ and RUT2000) showing improvement over the last three days and pulling there moving averages back up into the bull’s direction. We are oscillating here so a bad day could reverse all the gain. Thank you for subscribing.
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Much news this AM so hard to call before the news and reaction arrives but I would expect the current down trend in the ticks to finish this AM. We would have to see if there is strength to rally this afternoon after I run my mid-day charts. Any gap up I will most...
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I published a mid-day post on this indicator along with my feelings about the quality of the data and the increase of noise. It might be worth the read if you didn’t already read it. It is interesting how it issued a good one day buy signal and now it is back to red. ...
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The NYSE 52 week new highs hurdled their goal of 192 today to maintain yesterday’s buy signal. Tomorrow’s hurdle is a lesser 92. I am expecting a weaker open tomorrow as the NYSE ticks are in a downtrend that should continue under they dip below their overbought area. 92 is not a forgone conclusion...
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We are just chopping along in here as this index is just crossing back and forth above and below the trigger moving averages. We are waiting for a trend to setup like on a lot of the other breadth indicators. Thank you for subscribing.
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