The opening gap in the morning was enough to get the 52 week new highs daily bar higher than Monday but we needed to keep the momentum indicator and that failed on all three indexes. The gap down this morning will make it difficult to make a higher daily bar today so I would...
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The 40 DPI remains in bearish mood and heading back down while staying below the 20 DMA. Notice the February pullback where we hit that 41% level and retested before finally turning and going up actually crossing back up when the 20 DMA hit right around that 41% value. That is still a few...
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Good morning. Monday may have been a key reversal day and as you can imagine days with big swings with no direction totally screw up breadth data. The charts as you will see are giving mixed information. The 52 week new highs was a +4 with the NYSE just missing on the momentum indicator. ...
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All three indicators told us something different. The NYSE scores a 0 with stronger daily bar but not strong enough to keep the momentum indicator up. NASD put in both a weaker daily bar and lower momentum scoring a –2 and the RUT put in a stronger daily bar with increasing momentum and...
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Remember our ZBT count down. Well we are 6 days now into the 10 day count and here is where the Zweig sits: We have folded down from the 54 area making the characteristic second bottom on the pullback. But in order to count for a rare thrust we must in the next 4...
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The 52 week new highs struggled through the morning but gained steam with the afternoon rally putting in higher bars on all three indexes. The Nasdaq and RUT had enough strength to turn the momentum indicators to bullish. A follow through day tomorrow with the NYSE joining in would go a long way...
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The charts this morning are slightly bearish with the 40 Day percent index putting in a perfect bear score. The high low charts are both neutral so we total the score at –6. It won’t take a lot of positive action today to turn those scores around to the bullish side today. On...
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The 52 week new highs posted a neutral score for Friday’s close with a lower daily bar but still positive values on the momentum indicator. The bar is fairly low to keep neutral, just 15 new highs needed. To move to the bullish column for the NYSE we would like to see 54 new...
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Despite the weakness on Friday this index was able to hold to a neutral score setting up to take on the value for Monday’s close. If we close green today this index will turn bullish, red back to bearish. For today neutral.
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The Friday’s close of the 40 DMA % index put in both a lower daily bar and also remains below its 20 day moving average giving a sell signal. This chart is slow to turn so one does get a day or two sometimes of miss direction ( which is why we look a...
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