Chart of the Week: A/D with Volume 2 x 21-day MA

Internals continue to improve from oversold conditions but a
pause is likely. NASDAQ improvement suggests that after some digestion (backing
and filling), a summer rally can work higher. As such, expect choppy trade.
Improving internals suggest an upside resolution of the trading range.

Advancers-Decliners with Volume  2x 21-day MA
click for larger graphic

Source: Kevin Lane, Redwood Technimentals

The 10-day average (blue line) of the net above average
volume advancers (above average volume stocks trading up minus those trading
down) has moved back above the zero line suggesting that more stocks are
trading up on big volume than down – this is a positive change in a conditional

Random Items:

Yield Curve, More Than Shapely Body, Has a Brain

Trojan horse also hit major int’l firms

The real problems with $50 oil

Bullish on housing, no letup in sight

It’s Not a Bubble Until It Bursts

Why smart people defend bad ideas

11 steps to a better brain

Quote of the Day:

“Every time everyone is talking about something, that is the time to
George Lindemann


Print Friendly, PDF & Email

Posted Under