Thursday, April 21, 2011

Breadth

Here's the 2-day breadth for the NASDAQ 100 component stocks on a 1/5 min interval


 Today the count of new lows over a 250 bar period is higher then it's been recently, you may remember yesterday there wasn't much if any action on the new lows so this is a definitive change in character.

 Over a 5 min interval, the A/D ratio continues its decline from yesterday, seen on a 1 min chart.

And on a 5 min interval (yesterday we looked at 1  min as it responds faster) the % of stocks above their 50 bar 5 min moving average in increasing, while those above are falling off.

The SPY has broken below the ascending triangle, but there's plenty of room for volatility around the apex of the triangle.

Here's AAPL's break above the triangle as expected, now however, it's important to watch the action, especially volume here.

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