yeah that's interesting on NAMO how it closed below its lower
BB's. Typically Steve and I don't look at that unless there's been
a correction.
however what that also shows is the negative breadth lately
where while the index has continued to hold up - look at how the
QQQ has went up all month while the NAMO has falling all month.
What it shows is that the bigger stocks have been moving higher
thus causing the index to go up by weighting, however a lot under
the surface was weaker
NAMO Bottoming signal? (Matt's chart
Posted by tgo5043 on 30th of Dec 2020 at 11:13 am
NAMO Bottoming signal? (Matt's chart from earlier Newsletter)
Thanks for posting - it
Posted by steve on 30th of Dec 2020 at 11:26 am
Thanks for posting - it updates so late at Stockcharts that it's nearly after my bedtime
yeah that's interesting on NAMO
Posted by matt on 30th of Dec 2020 at 11:58 am
yeah that's interesting on NAMO how it closed below its lower BB's. Typically Steve and I don't look at that unless there's been a correction.
however what that also shows is the negative breadth lately where while the index has continued to hold up - look at how the QQQ has went up all month while the NAMO has falling all month. What it shows is that the bigger stocks have been moving higher thus causing the index to go up by weighting, however a lot under the surface was weaker
NAMO chart