Info!! Indicator Review For March 31St

Last week's indicator review noted solely tepid forcefulness next the bounce off the mid-month marketplace lows. I likewise noted weak coin flows amid the S&P 500 stock sectors (article amongst link to all the posts here). Influenza A virus subtype H5N1 unopen look, sector past times sector, finds that defensive themes are dominating the market--not something we'd hold off if nosotros were entering a bullish marketplace phase.

For this week's indicator review, I recalculated coin flows amid the Dow Industrial stocks using my ain information as well as methodology, rather than the information from Dow Jones. My decision (top chart) is essentially the same: at that spot is no testify at this fourth dimension of sustained dollar flows into stocks. Even every bit the marketplace has bounced, nosotros convey stayed below the cypher line, suggesting that coin is flowing out of the shares of the companies that contain the index.

We tin likewise encounter (middle chart) that novel 20-day highs minus lows amid NASDAQ, NYSE, as well as ASE issues convey rolled over and, every bit of Friday, were essentially even. This rolling over was reflected inwards the Cumulative NYSE TICK, which turned downwards on Fri later 7 consecutive days of positive readings. The fact that the TICK as well as the novel highs/lows are non plunging suggests that we're getting to a greater extent than of an absence of buying inwards the recent marketplace than an avalanche of selling. The trial has been a rather steady drift downward for much of the week.

The best 1 tin say nearly the province of affairs is that the dramatic fundamental depository fiscal establishment interventions convey helped stopped the selling, but convey non inspired sufficient confidence to sustain buying. The fact that fiscal shares remain marketplace laggards does non talk good for investor confidence on the heels of those interventions.

My momentum measures convey turned downward. On Friday, Demand closed the solar daytime at 38; Supply was 127. Among S&P 500 stocks, solely 38% were trading inwards a higher house their 20-day moving averages on Friday, downwards from over 70% early on inwards the week. We're seeing a fleck to a greater extent than forcefulness amid the small-scale caps: amid the S&P 600 small-scale cap issues, 50% are inwards a higher house their 20-day moving averages, downwards from over 75% early on inwards the week.

Among NYSE mutual stocks only, nosotros had viii novel 52-week highs on Fri as well as 33 novel lows--the highest degree of novel lows of the week, but nowhere close every bit high every bit the degree seen mid-month. Meanwhile, the advance-decline draw of piece of occupation for those NYSE mutual issues is hovering simply inwards a higher house its demeanour marketplace lows--a clear sign that wide buying has non swept the markets.

If selling does non alternative upwards early on inwards the week, peculiarly inwards the NYSE TICK, I would hold off the marketplace to aspect for a short-term bottom as well as come inwards a hit mode, amongst end week's highs every bit the upper destination of the range. As long every bit Supply exceeds Demand as well as stocks making novel lows happen on to expand, however, I volition live on defensive on this market. Any pickup of selling would target an of import examination of the mid-March lows. I volition happen on to update marketplace indicators as well as views daily inwards my Twitter comments.
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