Walter Murphy
@waltergmurphy
1 hour ago
The DJIA only achieved its MINIMUM downside objective on
Friday, i.e., a 38.2% retrace of the 2016-2018 rally.
Dec 21
The Bullish Percent Indexes for the NDX100 and SP500 are
at their lowest levels since 2009.
The BPI for the DJIA is at its lowest since 2015.
All are considered bad oversold readings.
Dec 19
I'm thinking c of A.
Walter Murphy added,-----
The market met your 38.2% Fib retracement of 2016-2018.
Is this the c of THE abc? What happens next?
Dec 19
Two weeks ago I expressed concern that even as
Elliott Wave suggested a downside acceleration
for the DJIA, its BPI was meaningfully o/b at 86.67%.
Today, the BPI is 26.67%.
Dec 10
One of the things we have been concerned about
is the o/b condition of DJIA's BPI.
Today it fell 23 points --
the largest 1 day drop since 8/2015
Dec 7
Almost exactly half (748) of the stocks in the broad
S&P 1500 are at least 20% below their 52-week high
Dec 7
The weekly Coppock Curve has a bearish bias for 9 of 11 S&P sectors
-- including tech, financials, and healthcare
(48.4% of the S&P 500).
Dec 7
The weekly Coppock Curve has a bearish bias
for 26 of the 30 DJIA stocks
Dec 7
The late Marty Zweig is well known for his breadth thrust indicator.
Less well known is his high-low index measuring the
60-day ma of the ratio of NYSE 52-wk highs to 52-week lows.
The attached chart shows that his index is now on a par
with previous cyclical lows since 1974.
Dec 4
To add salt to the wound, the Bullish Percent Index
for the DJIA is at a meaningfully o/b reading of 86.67%
even as there is an Elliott Wave count suggesting
the potential for a downside acceleration.
Dec 4
Be careful. Today's decline is potentially the beginning
of wave 3 of C from
the early October top. That is the equivalent of a powerful
third-of-a-third.
Nov 27
For those keeping score, the Case-Shiller home price a-d line
has not had a down month since Jan 2015
Nov 25
The S&P 500's intermediate weekly Coppock Curve is at a 20-month low.
Nov 25
The weekly (intermediate) Coppock Curve still has
a bearish bias for 24 of the 30 DJIA stocks,
Nov 16
NYSE: 11th straight week with more 52-week new lows than new highs.
Longest streak since Jun-Oct 2015 & 2nd longest streak since 2009.
======================
daily chart of :
the cumulative net new 52-week highs minus 52-week lows
for four indices and
with $SPX daily price closes -
@waltergmurphy
1 hour ago
The DJIA only achieved its MINIMUM downside objective on
Friday, i.e., a 38.2% retrace of the 2016-2018 rally.
Dec 21
The Bullish Percent Indexes for the NDX100 and SP500 are
at their lowest levels since 2009.
The BPI for the DJIA is at its lowest since 2015.
All are considered bad oversold readings.
Dec 19
I'm thinking c of A.
Walter Murphy added,-----
The market met your 38.2% Fib retracement of 2016-2018.
Is this the c of THE abc? What happens next?
Dec 19
Two weeks ago I expressed concern that even as
Elliott Wave suggested a downside acceleration
for the DJIA, its BPI was meaningfully o/b at 86.67%.
Today, the BPI is 26.67%.
Dec 10
One of the things we have been concerned about
is the o/b condition of DJIA's BPI.
Today it fell 23 points --
the largest 1 day drop since 8/2015
Dec 7
Almost exactly half (748) of the stocks in the broad
S&P 1500 are at least 20% below their 52-week high
Dec 7
The weekly Coppock Curve has a bearish bias for 9 of 11 S&P sectors
-- including tech, financials, and healthcare
(48.4% of the S&P 500).
Dec 7
The weekly Coppock Curve has a bearish bias
for 26 of the 30 DJIA stocks
Dec 7
The late Marty Zweig is well known for his breadth thrust indicator.
Less well known is his high-low index measuring the
60-day ma of the ratio of NYSE 52-wk highs to 52-week lows.
The attached chart shows that his index is now on a par
with previous cyclical lows since 1974.
Dec 4
To add salt to the wound, the Bullish Percent Index
for the DJIA is at a meaningfully o/b reading of 86.67%
even as there is an Elliott Wave count suggesting
the potential for a downside acceleration.
Dec 4
Be careful. Today's decline is potentially the beginning
of wave 3 of C from
the early October top. That is the equivalent of a powerful
third-of-a-third.
Nov 27
For those keeping score, the Case-Shiller home price a-d line
has not had a down month since Jan 2015
Nov 25
The S&P 500's intermediate weekly Coppock Curve is at a 20-month low.
Nov 25
The weekly (intermediate) Coppock Curve still has
a bearish bias for 24 of the 30 DJIA stocks,
Nov 16
NYSE: 11th straight week with more 52-week new lows than new highs.
Longest streak since Jun-Oct 2015 & 2nd longest streak since 2009.
======================
daily chart of :
the cumulative net new 52-week highs minus 52-week lows
for four indices and
with $SPX daily price closes -
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