This post finishes my Triology from Tuesday April 13th where all three charts, despite a reasonably performing day with new high prices, actually put in weaker charts. Perhaps a one day correction that price will take care of with a gap open on Wednesday? Here is the 10 day high-low chart. For review:...
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On of the best back tested indicators I have is the 40 DMA % Index. It is simply the number of stocks components within an index that are trading above their 40 day moving average. I track the NYSE the Russell and the Nasdaq market as these are the broadest available.
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Quite a week we have in store as push to new highs with OPEX expiration and kicked off earnings, Alcoa lead the earnings parade with their usual disappointing routine. The Alcoa management must do that on purpose? They are so creative and reliable that it is amazing to watch. The markets took a little...
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Today we have a slight gap up opening which will be a change and real test of the evaporating momentum. Each day we have reached the close with lower breadth and hence seeing price momentum slow. Today without a gap down and with the winds from the world wide markets performances at our backs, ...
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Our third gap down this week today. Tuesday’s gap down was closed and we set new index highs on the SPX. Yesterday’s gap down rallied back up and closed the gap only to fail rally then fail again. Today? Let’s look at the charts after we spin the globe:
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Good morning it is April 7th. Last night the markets seemed to take a breather unable to pass-on our bullish baton in the world wide relay. Our futures sold off overnight as the dollar continued it push back up to the new high area.
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Last night was spent working with Adobe on a problem that resolved itself by Adobe promising to expedite and me actually doing something. That left little time this morning for charts so here is my shot at getting something out:
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Easter is over, at least for some of us. Today is Easter Monday and a large part of the world including Europe has the day off and their stock markets are closed. This includes Hong Kong so overnight there was not a lot of action to confirm the currently bullishness in the Untied States....
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Here is my video on the Russell for the day..
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