Saturday, March 6, 2010

Breadth update: Bulls recapture command!

see (1) :
New Highs 20days cleary signal that the bull are back in charge of the tape

see (2):
Buying Pressure same as (1)

see (3):
the cummulative 10day lines of (1) & (2) have turned bullish again

see (4):
Momentum (MOMO as deviation of the price from the 50 day Mov. Avg.) still points to the bearish side


Summary:
The Bulls have recaptured the tape with a venegance and are in control. The extreme one way nature hints at some potential exhaustion, meaning at Feb 5 the market turned and just went up and never looked back which doesn't have the "climb a wall of worry" kind of feel a healthy move normally has.

1 comment:

  1. nice analysis!!
    Thank you.

    ...(I'd be pleased if you exchange reciprocal link with me.)

    ReplyDelete