There is no denying, yesterday was a washout of the breadth and slammed all the indicators I tracked down into the bear area except for our confirming 40 DPI which remained neutral but on the bullish side of the signal line. Today needs to rebound if the bulls want a chance to regain...
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The breadth charts gained back some despite a weaker day, they now have a +6 consolidated score. The market is consolidating under the hood and it showed in Wednesday’s price action. Today the market will show us how strong bulls are. So far this morning is off to a positive start with the...
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The charts for the most part moved to neutral except for the 40 DMA % Index which is close sensitive while the 52 week new highs is high of the day sensitive and the 10 day high low is low of the day and high of the day sensitive. The close was terrible and...
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Breadth charts remain bearish with a composite score of –15 out of –18. Downside potential is still there as the market searches for good support. The markets closed on the lows of the day.. You can see the slide from the double top around 1106 made last Thursday and the close on our support...
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I thought I would publish a bonus chart this morning looking at where we are since the February lows.. The Transports are up the most still up over 6% while the bottom of the stack is still energy down 7% below the February lows. SPX, DOW and NYSE are below while the RUT...
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The breadth charts for Wednesday morning are bearish overall but showing some interesting divergences after Tuesday’s price action. Price of course dominates today’s discussion and Tuesday’s price action gave us a bottom type signal with a large gap down and run to that 1041 area which was bought hard and price recovered all the...
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The breadth charts are telling us we are still mired in weakness and a little trendless. While yesterday’s candle was a bearish reversal it was unable to put in a new low and in fact put in a higher high and higher low. This mornings gap down will reverse that putting in a lower...
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http://traderfeed.blogspot.com/ – Farewell form a long time blogger.. Brett Steenbarger http://pragcap.com/rail-traffic-recovery-continues-2 http://www.bespokeinvest.com/
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The ten day high minus low indicator is confirming what I am seeing on the other two charts, that weakness is upon on us. The one day OPEX weakness is now confirmed with this second and even weaker day. Although we closed green on the all the majors except the Russell 2000 today there...
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Yesterday I was chicken little describing waning breadth and as we sit today the reset button has been set and breadth has in a single day turned around not just to neutral but to full bull. A good report by Intel to start the season and good news on the retail side sent the...
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