Score: +6 The strong open on Monday pushed the 10 DHL chart into bull territory and it will take another strong day on Tuesday to keep the momentum going. The hurdle bars are starting to get high now as we have consolidated for the last 5 days. A breakout to the upside today is...
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Friday’s low gains had the underneath market improving. Each of the indexes, the NYSE, RUT, and Nasdaq put in stronger 10 day high minus low values and the momentum indicator continues to rise. Starting Monday the bar to keep the momentum indicator up will increase from 8% to 32%. That is a fairly major...
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You can now download my 10 day highs minus lows chart from the Worden Stockfinder chart sharing system. It is available for free. This page will walk you through the installation. You must have StockFinder 5.0 in order to use this indicator. To download go here: http://www.redliontrader.com/indicators-3/stockfinder-5-0-10-day-highs-minus-lows/ Here is a video on...
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The 10 DHL has moved from neutral to bullish as of 3pm on Friday. This indicates renewed breadth bullish strength in the NYSE, Nasdaq and Russell 2000.
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Moving for a +2 down to neutral the 10 day highs minus lows weakened on Thursday close. The rally from the bottom continues to consolidate before making the next move either up or down. When in doubt consolidation usually breakout in the direction in which they were entered. We need to watch the NYSE...
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The 10 DHL chart closed neutral for Wednesday, with the NYSE joining the RUT and NASDAQ as the market does a little consolidating. We should have at least one more day of weaker numbers before resuming our rally. .
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I have run my 10 day highs minus lows charts intraday since I could not get them to run overnight last night successfully. What I was looking for from Tuesday’s close was a confirmation of what we were seeing on the 52 week new highs. Indeed despite yesterday’s new index highs the 10 DHLs...
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The 10 day highs minus lows on Monday’s close put in a full +6 full bullish mode score now that both the dailies and the momentum indicators continue to build. The long side is the higher probability trade now despite Monday’s afternoon market action shakeout. Tuesday has some work to do to keep from...
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The 10 day highs minus lows are now at +6. The positive price action on Friday pushed the dailies along with their momentum higher. The next five days are setup to allow for some weak days to maintain the bullish mood. As long as we do not totally fall apart we should be...
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Thursday’s price action put the 10 DHL chart into neutral. Again the NASDAQ chart refused to generate but I am pretty sure that it mimics the others with a higher day but still downward momentum. A follow through day today will surely change that.
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