Chart Score 40 DMA % Index -6 10 Day High – Low +2 52 Week New Highs +2 Total -2 Our scores are bouncing around the neutral area looking for a trend to develop as we turn from strength to weakness for the last couple of days. We headed to the...
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For those who missed the market strategy meeting Thursday you can watch the recording here: http://ttthedge.na6.acrobat.com/p93971642/
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The 40 DPI moved form neutral on Wednesday to Bearish on Thursday with the number of stocks trading above their 40 day moving average waning. I would expect some more downside before we head back up to the highs.
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Price wasn’t strong today and the Zweig Breadth indicator took a down turn. There is still plenty of time to get to that overbought area, we would expect to have a follow through day from today and then head back up.
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Chart Score 40 DMA % Index 0 10 Day High – Low +6 52 Week New Highs +6 Total +12 Charts remain on the bull side of the market as everyone is bracing for a retest but the rally seems to have really caught on. Even the world last night was up around the...
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Wednesday’s close of the 10 day high minus low charts puts in a +6 bullish score for the third day in a row. The Nasdaq is putting in stronger positive numbers as the markets reproach there pre-correction highs. There are no divergences to talk about. Our job now that the charts have turned to...
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Seven days left and Wednesday did not disappoint closing the indicator above 50 which is the halfway point to overbought. So far very clean looking thrust.
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Rocketing towards a crossing with the 20 DMA , the RUT could actually issue a buy signal tomorrow. The momentum from this thrust is really something to see. The chart on Wednesday scores a 0 and I am not sure we can keep this pace up and would expect us to put a wiggle...
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The 52 week new highs for the NYSE, Nasdaq and Russell 2000 have banded together to put in a bullish +6 score Wednesday on the charts. All three indexes put in both higher new day bars and passed their day-5 bars to keep the momentum indicators in the bullish direction.
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Here is a good example of how I use the ticks to pick good entry points. The NYSE ticks set up perfectly for a fade.
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