Wednesday, March 26, 2008 10:27:07 AM
The market has moved up in the past 5 days. Do you trust it or not?
One indication that the up move is out of sync is a red flag on the number of daily New Highs seen on the New York Stock Exchange. (See today's chart below.)
The New Highs came in at a reading of 30 yesterday. This is not a reading that supports an up rally.
Historically, readings below 100 don't have enough up trending stocks to keep the market moving up. Readings below 50 are particularly low with too few stocks moving to New Highs for a sustainable up condition. This is a red flag condition.
(This chart is posted every day on our paid subscriber site.)
Regards,
Marty Chenard
StockTiming.com
80 Botany Drive
Asheville, NC 28805
Tel: 828-296-1200
(Note: This is your Reference link for www.StockTiming.net where you can get up to date daily stock market news with direct links to Bloomberg, Marketwatch, Motley Fool, the Wall Street Journal ... the AMEX, CBOE, CBOT, CME, NASD, NASDAQ, NYSE, and the Russell 2000 exchanges.)
One indication that the up move is out of sync is a red flag on the number of daily New Highs seen on the New York Stock Exchange. (See today's chart below.)
The New Highs came in at a reading of 30 yesterday. This is not a reading that supports an up rally.
Historically, readings below 100 don't have enough up trending stocks to keep the market moving up. Readings below 50 are particularly low with too few stocks moving to New Highs for a sustainable up condition. This is a red flag condition.
(This chart is posted every day on our paid subscriber site.)
Regards,
Marty Chenard
StockTiming.com
80 Botany Drive
Asheville, NC 28805
Tel: 828-296-1200
(Note: This is your Reference link for www.StockTiming.net where you can get up to date daily stock market news with direct links to Bloomberg, Marketwatch, Motley Fool, the Wall Street Journal ... the AMEX, CBOE, CBOT, CME, NASD, NASDAQ, NYSE, and the Russell 2000 exchanges.)
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