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Chart of the Week

Posted By Barry Ritholtz On October 13, 2003 @ 3:39 pm In Finance | Comments Disabled

The nearby chart shows that over the past 2 years, the market has gotten overbought and oversold numerous times.

10 Day Moving Average of Advancers vs Decliners (NYSE)
A-D OB OS.gif
Source: RedTech Research [1]

Internals remain strong, and suggest that the rally has some room to run. Do note that Nasdaq stocks are closer to overbought levels than NYSE issues . . .

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[1] RedTech Research : http://www.redtechresearch.com/

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