NY stock exchange
advancing issues less declining issues continues to step along with the S&P
500. In fact, the a-d line lead the
rally up early on.
But my more important
breath indicators of equal weight to the index, the 500 against the 100, junk
against investment grade, did not continue to go up along with the S&P
going to new highs.
If you want the market to
continue to rally you don’t want this to start going down. It looks good but didn't go as high as the previous high even though stocks went to all time highs.
And this looks great
also. It really collapsed along with the
rally. Trouble is it can’t go down much
further. And how long will it stay down?
This isn't looking bad at all but I do note that the 52 week new highs have not gone to new highs along with the indexes.
These things need to break upward to keep the rally going in my opinion.
Two bullish chats. Dividends and Utilities going down relative to SPY.
No comments:
Post a Comment