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Here's something market related and no ... I'm not offering a super duper
bonus if you will only clog the list with email.
Attached chart shows about two years of NYSE weekly Breadth as reported by
Barron's. Upper left is close only price chart showing strong rise and 30 week
MA. Bottom left is A/D issues, lower right is A/D volume, and upper right is H-L
issues. Note the initial strong rise of the breadth models in mid-2003 followed
by major divergences at the early 2004 price highs. Now, we are seeing the
models break to new lows even as price oscillates around the highs.
The weekly models are more akin to a cudgel than a scalpel, however this is
not the kind of double divergence you want to see in a bull market.
Earl
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Attachment:
Nyse Weekly Breadth.gif
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Description: "Description: GIF image"
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