- The Big Picture - http://www.ritholtz.com/blog -

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

Posted By Barry Ritholtz On April 12, 2004 @ 12:17 pm 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 3 weeks ago.

% of NYSE Stocks at 30 Day Highs (April 2)
nyse_stocks_atr_30_day_lows.bmp

Source: Technimentals [1] (4/2/04)

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:
Why Legendary Investors Are Drowning in Cash [2]
How India is saving capitalism [3]
Most US firms paid no income taxes in ’90s [4]
Where Wealth Lives [5]
Iran’s Role in the Recent Uprising in Iraq [6]
On Wall Street: worrying about the $3 gallon [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/2004/04/chart-of-the-week-of-nyse-stocks-at-30-day-highs-2/

URLs in this post:

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

[2] Why Legendary Investors Are Drowning in Cash : http://news.morningstar.com/doc/article/0,,105475,00.html?fsection=Comm1

[3] How India is saving capitalism: http://www.salon.com/tech/feature/2004/04/01/collabnet/index.html

[4] Most US firms paid no income taxes in ’90s: http://www.boston.com/business/globe/articles/2004/04/11/most_us_firms_paid_no_income_taxes_in_90s/

[5] Where Wealth Lives: http://businessweek.com/magazine/content/04_16/b3879051.htm

[6] Iran’s Role in the Recent Uprising in Iraq: http://www.memri.org/bin/latestnews.cgi?ID=SD69204

[7] On Wall Street: worrying about the $3 gallon : http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1079420121013&p=1012571727088

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

Copyright © 2008 The Big Picture. All rights reserved.