Percentage of NYSE stocks on weekly momentum buy signals peaked in May of ’03 and stands lower now even though the index is at higher levels.
% NYSE Weekly MACD Buy (Stocks Only)
This suggests we are pretty far along in the cycle, and that this is a higher risk buying juncture than at MACD lows . . .
We’re the Fed. We Screwed Up. We’ll Change
Grumpiest bears still unimpressed
Labor Market and the Manic-depressive economy
Nasdaq leading cyclical bull market
Sucker Punch Coming
Need a New Barometer for Stocks? Try the Price of Oil
Quote of the day
“All economic movements by their very nature are motivated by crowd psychology . . . Without due recognition of crowd thinking (which often seems crowd-madness) our theories of economics leave much to be desired.”