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Chart of the Week: % of Nasdaq issues at 30 day highs

Posted By Barry Ritholtz On February 19, 2004 @ 11:19 am In Finance,Media | Comments Disabled

The Nasdaq bounced off its 50 day moving average, but has failed to make a new high, while the Dow and the S&P500 have each hit new rally highs. Momentum is somewhat deteriorating on the NASDAQ, even though trend is still up.

% of Nasdaq issues at 30 day highs
Source: Technimentals [1]

Technimental’s Kevin Lane notes “There is a clear line in the sand at the 2,000 level, a close below this support area, given the fact momentum already is in a weakened state, would create the long awaited corrective wave. Remember however, this idea is off the table as long as we stay above these supports levels.”

Random Items:
Greenspan’s Deep Job Analysis Affects Policy [2]
The unemployment rate is only the beginning of the problem [3]
Coming Soon: $3 per gallon gasoline? [4]
Big and Bad [5]
Search For Tomorrow [6]
View From the Right: Tax Increases Ahead [7]

Quote of the Day
“I’m not advocating tax increases, I’m predicting them.”
-Bruce Bartlett [8], Senior Policy Analyst for President Reagan

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

URL to article: http://www.ritholtz.com/blog/2004/02/chart-of-the-week-of-nasdaq-issues-at-30-day-highs/

URLs in this post:

[1] Technimentals: http://www.technimentals.com/cgi-bin/mesh

[2] Greenspan’s Deep Job Analysis Affects Policy: http://quote.bloomberg.com/apps/news?pid=10000039&sid=aN1GztmBPdsU&refer=columnist_berry

[3] The unemployment rate is only the beginning of the problem: http://www.economist.com/printedition/displayStory.cfm?Story_ID=2424216

[4] Coming Soon: $3 per gallon gasoline?: http://cbs.marketwatch.com/news/story.asp?guid=%7B40A4FE60%2D9FE7%2D4C04%2DB5C7%2D22EEB3113ACB%7D&siteid=mktw

[5] Big and Bad : http://www.gladwell.com/2004/2004_01_12_a_suv.html

[6] Search For Tomorrow : http://www.washingtonpost.com/wp-dyn/articles/A42885-2004Feb14.html

[7] View From the Right: Tax Increases Ahead: http://online.wsj.com/article/0,,SB107714710806633229,00.html

[8] Bruce Bartlett : http://www.townhall.com/columnists/BIOS/cbbartlett.html

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