Tuesday, May 14, 2013

What Monday's Weak Breadth Could Foreshadow

Monday’s weak breadth could imply negative ramifications over the next few days.  In the past I looked at instances where the SPX closed higher while the NYSE Up Issues % came in under 40%. Results above the 200ma showed a steady and persistent downside edge. I have updated them below.

The numbers here appear to suggest a downside edge.  Perhaps the market is readying to lay off the gas for a day or two.

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