you see now why I discussed those breadth indicators on the
weekend and the HYG vs SPX - while some questioned why discuss as
the market looks fine LOL, you see that things like that do matter
and we've seen that the last couple of days
again in my years of market analysis, you will see these
divergences show up, and times when only a handful of stocks are
leading - and many times what happens is that the market stays
afloat for longer than you think it should - so long at times that
it finally convinces you that it doesn't matter this time, and once
you start thinking that way, BOOM, it pulls the rug.
so again, when I see those indicators like that (SPXEW, negative
Breadth, SPX and HYG not confirming each other, it's my job to
point those out.
clearly these were items worth discussing on weekend
Posted by matt on 23rd of May 2023 at 02:37 pm
$SPX - Chart Link- SPX vs HYG
$NYADV:$NYTOT - Chart Link- breadth indicators
$NYAD - Chart Link-
you see now why I
Posted by matt on 24th of May 2023 at 03:05 pm
you see now why I discussed those breadth indicators on the weekend and the HYG vs SPX - while some questioned why discuss as the market looks fine LOL, you see that things like that do matter and we've seen that the last couple of days
again in my years of market analysis, you will see these divergences show up, and times when only a handful of stocks are leading - and many times what happens is that the market stays afloat for longer than you think it should - so long at times that it finally convinces you that it doesn't matter this time, and once you start thinking that way, BOOM, it pulls the rug.
so again, when I see those indicators like that (SPXEW, negative Breadth, SPX and HYG not confirming each other, it's my job to point those out.
https://breakpointtrades.com/blog/post/400755/
Excellent job, Matt. Thanks!
Posted by chuckw on 24th of May 2023 at 03:13 pm
Excellent job, Matt. Thanks!
Nice spotting Matt and thus
Posted by steve on 23rd of May 2023 at 02:58 pm
Nice spotting Matt and thus not surprising to see some give back