Friday, April 1, 2011

Breadth

We are far enough into this advance that the big picture for the advance can be seen more clearly. These are all breadth indicators I have setup on Stockfinder for the NASDAQ 100

 Starting with the 1 minute advance / decline ratio which has shown negative readings the last several days as we see here, fewer NASDAQ 100 stocks advancing into higher prices.

 Now that the trend is developed, it's easier to look at the 15 min chart to get a feel for the overall advance and we can see that the daily charts like the one above have been accumulating  into the longer 15 min chart.

 Here's another we've been watching, the 250 bar new highs/new lows on a 1 min scale.

And the same indicators on a 15 min scale shows some unusual activity today.

 This is a custom Breadth indicator , the trend early in the advance is clear as is the trend now (15 min scale)

 Here's a McClellan Oscillator, note the positive trend at the start of the advance and the trend as the advance matured.

This indicator is PVT or Price/Volume Trend, it's been pretty bleak throughout the advance when comparing the indicator to price at two relative levels. A simplified explanation is that volume just hasn't been there in the advance which is taken to suggest that traders are less willing to chase higher prices.

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