6 posts tagged NYSE breadth

Last week I suggested that market breadth doesn’t matter, until it does. By which I meant that inspecting every twitch of the cumulative breadth measure for the market isn’t all that useful. Most of the time, this indicator is brought up because there is a “negative divergence” which then is used

In last week’s sentiment overview I mentioned some troubling signs were appearing on the horizon. For one, we were once again just below the 1400 level on the S&P 500 index. But that this important technical junction coincided with wobbly results from indicators like the percentage of stocks above

This was the best April Fool’s prank the bulls could have played on the bears! Almost all the major indices finished up 3% or more. The semiconductors closed up more than 4%. The only thing to fall was gold, losing its 900 handle.

This was the best April Fool’s prank the bulls could have played on the bears! Almost all the major indices finished up 3% or more. The semiconductors closed up more than 4%. The only thing to fall was gold, losing its 900 handle.

In mentioning a few reasons why we were seeing an intermediate bottom, I wrote last week, after Tuesday’s 90-90 day (March 12th, 2008): The best scenario for the bulls would be another extremely strong day which would be as or even more lopsided than yesterday’s.

Last week something quite remarkable happened. We saw an almost back to back buying frenzy in the markets which pushed the internal breadth into the stratosphere. How explosive was it? On the NYSE, 90-95% of the volume was for stocks that went up in value. To see a more concentrated torrent of buy orders we’d have to go back 20+ years.