Ah, they never make it easy. Below we see the percentage of NYSE issues that are trading ABOVE their sensitive 50-day moving averages. What we see here is improvement and increasing strength. The percentage has now risen to 74.20%, highest since February. Usually, in case of danger, it's the run-of-the-mill stock (breadth) which is the first to fall away while the Dow is the last to break down. So the fact that the majority of NYSE issues are still healthy is a definite plus for the market.
Below we see the new highs/new lows chart. New highs have hit 775, a new peak for the year. Here too we see the technical case for a bullish market. And, in truth, I'm wondering, with the massive manipulation by the Fed, are any of the "normal" studies that I follow working as expected. The truth -- I feel safest with cash and gold ... Log in or subscribe to continue reading.
Premium Content Notification
A subscription is necessary to access premium content.
Please use the button below to subscribe in order to access all premium articles