Monday, February 19, 2018 9:37:26 AM
SPX:OEX daily ratio chart with SPY and OEX price action:
* bulls must hold the ratio above both the pink and green
horizontal lines in order to provide a healthy internal foundation
for a lasting price advance in the coming months
December 2017 through late January 2018 saw the 100 very largest
market capitalization stocks represented by the OEX index leading
the entire 500 symbol set in the S&P 500 index price action, which was
not a healthy foundation for a lasting price advance
( a negatively divergent internal vs. the record price levels for SPY )
chart #1 -
the use of the SPX to OEX ratio is about measurement of the degree
of price participation by the 500 symbols vs. by the
100 largest market cap. symbols contained within the S&P 500 index
chart #2 -
7 year history for the SPX:OEX daily ratio:
* bulls must hold the ratio above both the pink and green
horizontal lines in order to provide a healthy internal foundation
for a lasting price advance in the coming months
December 2017 through late January 2018 saw the 100 very largest
market capitalization stocks represented by the OEX index leading
the entire 500 symbol set in the S&P 500 index price action, which was
not a healthy foundation for a lasting price advance
( a negatively divergent internal vs. the record price levels for SPY )
chart #1 -
the use of the SPX to OEX ratio is about measurement of the degree
of price participation by the 500 symbols vs. by the
100 largest market cap. symbols contained within the S&P 500 index
chart #2 -
7 year history for the SPX:OEX daily ratio:
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