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Chart of the Week: % of NYSE Stocks at 30 Day Highs

Posted By Barry Ritholtz On March 29, 2004 @ 11:11 am In Finance | Comments Disabled

Looking at the issues on the NYSE (stock only) at 30 day highs, we find similar readings to the 2002 and 2003 lows. This confirms our previous oversold/bullish readings of last week. As the markets build on their bounce off the 200-day moving averages, we expect more movement back up before down.

% of NYSE Stocks at 30 Day Highs
Source: Technimentals [1]

Technimental’s Kevin Lane notes: “We would expect the market to try and retest recent highs given these oversold readings. We will see if internals re-assert themselves or stay weakened, relative to their recent high readings. Lower readings on a test would set up for a classic breadth divergence and lead to a bigger correction than what we recently witnessed.” We agree.

Random Items:
S&P to float-adjust its indexes [2]
Shifting Opinions On Iraq [3]
The ripple effect of prices at the pump [5]
Is Condi The Problem? [6]
Graphical History of Baseball [7]

Quote of the Day:
“Little minds are tamed and subdued by misfortune; great minds rise above them.”
-Washington Irving [8]

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

URL to article: http://www.ritholtz.com/blog/2004/03/chart-of-the-week-of-nyse-stocks-at-30-day-highs/

URLs in this post:

[1] Technimentals: http://www.technimentals.com/

[2] S&P to float-adjust its indexes: http://cbs.marketwatch.com/news/story.asp?guid=%7BD5B31027%2DE9BD%2D4B15%2DA1CC%2D85011B766741%7D&siteid=mktw

[3] Shifting Opinions On Iraq: http://www.cbsnews.com/stories/2004/03/16/opinion/polls/main606621.shtml

[4] WHY ARE GAS PRICES HIGH AND RISING?: http://www.knowledgeproblem.com/archives/000748.html

[5] The ripple effect of prices at the pump: http://www.csmonitor.com/2004/0326/p03s01-usec.html

[6] Is Condi The Problem?: http://www.time.com/time/covers/1101040405/story.html

[7] Graphical History of Baseball: http://home.istar.ca/~mbein/baseball.html

[8] Washington Irving: http://www.kirjasto.sci.fi/wirving.htm

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