Wednesday, February 01, 2006 9:13:17 PM
Updated Hourly Breadth Charts.
From this charts, the short term trend is down to flat.
Having a hard time calling the short term trend based on breadth mostly due to the last 2 highly volatile days. Still in cash till this market figures out what it is going to do.
- Price has made 3 lower highs and 2 lower lows in the last 3 days (see the second chart). The hourly BB's have also narrowed, indicating a move soon.
- The hourly NDX SI has gone flat to down the last 3 days, but has shown some strength in the last few hours.
- The hourly NDX Osc looks to have broken out higher from a symmetrical triangle..
- The blue MACD breadth line (number of NDX stock with a Bullish Centerline Crossover) continue to decline, but is still above 50, which still indicates some strength. The last 3 hours were up in price, while the blue line was flat to down. However, the read/green line (number of NDX stocks with a Bullish Moving Average Crossover) has been shown strength.
The hourly NDX SI viewed on a daily charts shows a green bar, but a small one, just like the last two. I think this is showing the indeciveness of the market.
Jared
jjames10@nc.rr.com
From this charts, the short term trend is down to flat.
Having a hard time calling the short term trend based on breadth mostly due to the last 2 highly volatile days. Still in cash till this market figures out what it is going to do.
- Price has made 3 lower highs and 2 lower lows in the last 3 days (see the second chart). The hourly BB's have also narrowed, indicating a move soon.
- The hourly NDX SI has gone flat to down the last 3 days, but has shown some strength in the last few hours.
- The hourly NDX Osc looks to have broken out higher from a symmetrical triangle..
- The blue MACD breadth line (number of NDX stock with a Bullish Centerline Crossover) continue to decline, but is still above 50, which still indicates some strength. The last 3 hours were up in price, while the blue line was flat to down. However, the read/green line (number of NDX stocks with a Bullish Moving Average Crossover) has been shown strength.
The hourly NDX SI viewed on a daily charts shows a green bar, but a small one, just like the last two. I think this is showing the indeciveness of the market.
Jared
jjames10@nc.rr.com
Jared
jjames10@nc.rr.com
"Don't Panic!"
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