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--- EAdamy <eadamy@xxxxxxxxxxxx> wrote:
> NYSE AD Volume (5 minute) shows strong bullish divergence at the Emini low
> and the NASDAQ shows modest bullish divergence. That last drop was violently
> reversed.
>
> Earl
Thanks Earl, Ben, Ira...
. Later, as markets rallied, appears to me that the internals were not as good
as one would want for such a strong reversal. IMO, today, we go up, how far?
maybe 1178/79, from there all depends on conviction of buyers, whether market
can overcome that stiff resistance zone to 1183....but, strong support around
1169/71 should hold up. I am bullish short term, on longer timeframes, I am
indecisive.
Ithought this summary below was quite indicative of the internals yesterday:
"These numbers are all well and good, especially after the earlier troubles.
Whenever the market is down big and it can recover into the close this shows
you some sort of underlying bid, and you do not want to ignore this. The market
internals though are not as "nice" as I would like to see them. We had NYSE
volume decrease 4% to 1.84 billion shares while the NASDAQ volume fell by 7%,
to 1.77 billion shares. I would like to see stronger volume on a reversal day.
Next, on the NYSE there were 66 new 52 week highs vs 68 new 52 week lows. This
is the first time in several days there have been more new lows on the NYSE. On
the NASDAQ, where lows have continued to lead there were 45 new highs and 95
new lows.
Next I look at the Advancing Vs Declining issues on both exchanges, and this is
where my real disapointment comes in. On the NYSE advancing issues led
declining issues by a ratio of 18 to 14, while on the NASDAQ decliners lead
narrowly by 16 to 15. Neither of these are stand out numbers, but I like to see
strong leadership in advancing issues in a bullish market. I am going to
continue to keep an eye on this, as well as the new highs, and if there is not
some better action soon I am likely to turn much more cautious going forward. :
> ----- Original Message -----
> From: Bob R
> To: swingmachine ; realtraders@xxxxxxxxxxxxxxx
> Sent: Wednesday, May 11, 2005 10:09 AM
> Subject: Re: [SM] Re: [RT] Re: [e-mini_traders_anon] Re: sp500
>
>
> Following up from last weeks post on the swing high fingerprint. Using the
> more volatile cash dow, attached is what the time segmented average of nyse
> up volume says, currently bearish intraday.
>
> bobra
http://www.JahajeeDesi.com
Home of the Caribbean Indian Diaspora
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