since the Monday, March 21st, daily NYSE breadth data was firmly positive, let's consider one data set for cumulative internals for a perspective:
* notice the cumulative NYSE new 52wk Highs less new 52wk Lows (NYHL) shown below in green now resides above the 8-day ema fastest moving average in the ema ribbon set
* the cumulative NYSE Advancers less Decliners (NYAD) shown in brown appears to break its rising configuration more deeply than the NYHL data set
* in the cumulative NYHL chart below, notice the plot of the daily ratio for the:
*** NYSE new highs less new lows (NYHL) to NYSE total volume(NYTV) now resides above the zero line, which is a bullish characteristic ***
time below the zero line in 2010 and 2011 has marked sustainable downside price action, and notice the duration of such zero line breaks in 2011 has been minimal, so far ... March is the only such brief event for 2011
+5 level for the 8-day moving average of the daily NYAD postings is NOT a confirmation level which can be considered to be meaningful...more days of upside breadth will be required to have meaning beyond a "retracement bounce"
+705 for the 8-day moving average of the daily NYAD postings, as a result of today's +1375 positive breadth
for how much longer will the average positive breadth trend continue at these relatively elevated levels?
another version of the daily chart with a plot of the 8-day moving average for the daily NYAD postings shows the relatively high extremes in recent years for this data -
the NYSE internals on the February 18th intraday high, and the declining trend for the internals during the days immediately following the Feb. 18th high ... will be worth a comparison to what occurs for the internals at today's close, and in future days -
(regular trading was closed on February 21st for Presidents' Day, so the February 22nd seriously negative breadth followed a three-day weekend market closure after the February 18th intraday high for the market)
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