Info!! Indicator Review For June 23Rd

the well-nigh recent indicator review, nosotros looked at a publish of signs of weakness, including an expanding publish of stocks making fresh 65-day lows as well as weak coin flows. This by calendar week saw to a greater extent than of the same, equally novel lows ane time once again expanded (top chart) as well as selling thought (NYSE cumulative TICK; bottom chart) continued its bearish trend. We're forthwith testing March lows inward the Dow Jones Industrial Average as well as nearing those lows inward the S&P 500 Index. Interestingly, the S&P 600 little caps as well as S&P 400 midcaps are good off their March lows, equally is the NASDAQ 100 index.

These divergences assistance to explicate why we're non seeing equally many stocks making fresh 52-week lows equally nosotros did inward Jan or March. On Friday, for example, nosotros had 27 NYSE mutual stocks register fresh 52-week highs, against 161 novel lows. By comparison, nosotros had over 300 novel lows inward March as well as over 700 inward January. Homebuilders, financials, auto manufacturers, airlines: in that location are a publish of really weak sectors making annual lows. When nosotros await at such sectors equally technology, consumer staples, consumer discretionaries, materials, as well as energy, however, nosotros come across no novel lows.

To endure sure, the marketplace position is weak. The advance-decline lines specific to NYSE mutual stocks as well as S&P 500 stocks are correct at their March lows. We're seeing fresh send lows inward the A-D draw of piece of employment specific to the Dow xxx Industrials. But the S&P 400 midcaps as well as S&P 600 little caps? The lines specific to those stay modestly to a higher house their 2008 lows. So spell the marketplace position is weak, it is non clear to me that it is weakening relative to the laid out quarter of the year. As long equally selling thought (cumulative NYSE TICK) remains negative, riding the tendency continues to endure the best kind out of action. I'm non aggressively chasing the downside here, however, as well as may indeed nibble at the long side should thought improve.
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