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Chart of the Week: MACD of NYSE stocks

Posted By Barry Ritholtz On November 3, 2003 @ 4:04 pm In Finance | Comments Disabled

Percentage of NYSE stocks on weekly momentum buy signals peaked in May of ’03 and stands lower now even though the index is at higher levels.

% NYSE Weekly MACD Buy (Stocks Only)
macd_nyse.jpg
This suggests we are pretty far along in the cycle, and that this is a higher risk buying juncture than at MACD lows . . .

Random Items
We’re the Fed. We Screwed Up. We’ll Change [1]
Grumpiest bears still unimpressed [2]
Labor Market and the Manic-depressive economy [3]
Nasdaq leading cyclical bull market [4]
Sucker Punch Coming [5]
Need a New Barometer for Stocks? Try the Price of Oil [6]

Quote of the day
“All economic movements by their very nature are motivated by crowd psychology . . . Without due recognition of crowd thinking (which often seems crowd-madness) our theories of economics leave much to be desired.”
-Bernard Baruch [7]


Article printed from The Big Picture: http://www.ritholtz.com/blog

URL to article: http://www.ritholtz.com/blog/2003/11/chart-of-the-week-macd-of-nyse-stocks/

URLs in this post:

[1] We’re the Fed. We Screwed Up. We’ll Change: http://quote.bloomberg.com/apps/news?pid=10000039&refer=columnist_baum&sid=avkdGMQDltKM

[2] Grumpiest bears still unimpressed: http://cbs.marketwatch.com/news/story.asp?guid=%7B0C8CAB9A%2D4BF1%2D4773%2DBAE9%2DEEB87A9DCC89%7D&siteid=mktw

[3] Labor Market and the Manic-depressive economy: http://www.nytimes.com/2003/11/02/business/yourmoney/02view.html

[4] Nasdaq leading cyclical bull market: http://cbs.marketwatch.com/news/story.asp?guid=%7B23E1C30B%2D1E34%2D44D5%2DA9FD%2D162F884A66E1%7D&siteid=mktw

[5] Sucker Punch Coming: http://online.wsj.com/barrons/article/0,,SB10676442876415600,00.html

[6] Need a New Barometer for Stocks? Try the Price of Oil: http://www.nytimes.com/2003/11/02/business/yourmoney/02stra.html

[7] Bernard Baruch: http://en.wikipedia.org/wiki/Bernard+Baruch

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