I receive got posted inwards the past most my proprietary Technical Strength measure, which assesses short-term trending of stocks inwards a style analogous to a goodness-of-fit regression line. In the nautical chart above, I've taken the xl S&P 500 stocks inwards my handbasket (five of the most highly weighted stocks inside the viii sectors that I rail each week) in addition to divided them into v categories based on Technical Strength: rigid uptrend, moderate uptrend, neutral (non-trend), moderate downtrend, in addition to rigid downtrend. By posting bars for Mon through Friday, nosotros tin run into how the trending demeanour of the handbasket evolved over the week.
What nosotros run into is that nosotros began the calendar week amongst to a greater extent than stocks inwards uptrends than downtrends, though no stocks were inwards rigid uptrends in addition to viii were inwards rigid downtrends. The bulk of issues, however, were non-trending, indicating a mixed market. By Tuesday, one-half of the stocks registered moderate uptrends in addition to viii were inwards rigid uptrends, every bit the S&P 500 Index broke higher upward its 900 degree of resistance. For the balance of the week, stocks inwards uptrends dwindled in addition to neutral (non-trending) stocks increased, every bit the S&P 500 Index brutal dorsum into its range. By Friday, the marketplace position was clearly inwards non-trending mode.
Distinguishing betwixt rigid in addition to moderate uptrends/downtrends provides useful information, I find. In a corporation trending market, one-half or to a greater extent than of the stocks inwards the handbasket volition qualify every bit beingness inwards rigid uptrends or downtrends. After the upside breakout early on inwards the week, solely 20% of the stocks inwards the handbasket qualified every bit beingness inwards a rigid uptrend. I strongly suspect that like categorical breakdowns of trending inside stocks inwards specific sectors would supply useful information for traders.
Because I discovery value inwards this breakdown, I volition ship service the tendency category condition of my handbasket each morning time earlier trading days via Twitter. Subscription is gratuitous in addition to available on my Twitter page, or you lot tin only read the concluding v posts on the weblog abode page nether "Twitter Trader".
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