1) it was an inside day for most indices. Yeah, big up
day, but still not really doing anything trend-wise.
2) $NYMO was pretty pathetic today -- I suppose this is a
breadth indicator. Closed outside the bb yesterday, then back
inside today; however, for a mini-"kick-off" move, it was a pretty
lackluster reading.
3) $NYAD cumulative was also lagging badly today -- usually
makes a new high in advance of the $SPX (typically in this 4+ year
bull) -- but it is quite far from that.
Anybody have some good breadth indicators they use?
Would not be surprised by some Chinese news. They're having some
high-level government event this weekend, which includes
announcements of economic reforms.
The idea of a head-fake makes sense here. Perhaps twice up to
this line makes a double-top?
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Inside day and breadth
Posted by kalinm on 8th of Nov 2013 at 06:34 pm
A few points about today:
1) it was an inside day for most indices. Yeah, big up day, but still not really doing anything trend-wise.
2) $NYMO was pretty pathetic today -- I suppose this is a breadth indicator. Closed outside the bb yesterday, then back inside today; however, for a mini-"kick-off" move, it was a pretty lackluster reading.
3) $NYAD cumulative was also lagging badly today -- usually makes a new high in advance of the $SPX (typically in this 4+ year bull) -- but it is quite far from that.
Anybody have some good breadth indicators they use?
Here's a chart of the
Posted by audax on 9th of Nov 2013 at 11:08 pm
Here's a chart of the lagging $NYAD - doesn't look good.
But while there are fewer new highs, the new lows are still steady.
Would not be surprised by
Posted by cubby on 8th of Nov 2013 at 09:02 pm
Would not be surprised by some Chinese news. They're having some high-level government event this weekend, which includes announcements of economic reforms.
The idea of a head-fake makes sense here. Perhaps twice up to this line makes a double-top?