Chart Score 40 DMA % Index 0 10 Day High – Low -6 52 Week New Highs -6 Total -12 The breadth charts maintained their bearish scorings from Friday’s close putting in a -12 bear score on Monday despite positive price action. The most bearish of the indicators was the 10...
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The markets are getting very interesting in here as they are stacking up in a similar fashion making a serious of lower highs. These charts are hard to see but you can click on them to enlarge them for easier reading but looking at them lined helps in the comparison. Upper Left: NYSE...
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Of the three breadth charts I watch the 10 day highs minus lows looks the most ominous for a market roll from here. Monday’s charts put in lower bars and the NAZ and RUT both put in negative numbers meaning we made more 10 day lows than highs and as we cycle forward on...
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The score for the 40 DMA % Index came in neutral today with an upward moving signal but still below the 20 DMA. Once we cross back above the 20 DMA we will be in the all clear for the next bull leg up. Until then it is caution to the downside.
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Price action was reminiscent of the past bullish action but the hole from Friday’s action left a hurdle too high for any of the indexes to climb. A follow through day on Tuesday could fix that. Tuesday’s 5 day bar is fairly small so a failure to turn the charts bullish will be a...
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Chart Score 40 DMA % Index -6 10 Day High – Low -6 52 Week New Highs -4 Total -14 The charts have scored a pretty hard bearish score from Friday’s close so we look today for either follow through or a rebound. It looks as if a gap open today will...
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The NYSE index kept the 52 week new highs from putting in a perfect bear score for all the charts: NYSE put in a higher new day bar but not enough to turn the momentum indicator around.
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The 40 DMA chart put in a perfect bearish score on Friday’s close. We are in an area that could turn back up now. You can see the low from March’s correction down around 30%. That is how low this indicator goes during a larger correction but the first correction from legs up...
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The slide in breadth on the 10dayHiLo chart continues and for Monday needs to follow through if we are looking for a deeper correction here. The chart scores a -6 for Friday.
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The left chart is the trading range we traded in from November to December at the end of last year and the chart on the right is our current trading range at the end of April. Both charts are about a 4 point SPY range. The range on the left eventually broke out...
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