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Chart of the Week: % of NASDAQ issues at 30-day lows

Posted By Barry Ritholtz On October 11, 2004 @ 12:45 pm In Finance | Comments Disabled

Kevin Lane of Technimentals notes that the 10-day MA of the % of NASDAQ issues reaching 30-day lows (green line) is starting to turn up.

% of NASDAQ issues at 30-day lows
click for larger chart
Nasdaq_issues_at_30day_lows_1 [1]

Source: Redwood Technimentals [2]

Lane warns that “Any acceleration in this line would lead to more corrective action, particularly if it worked back above the 11 % level (black line) as it would suggest a mean reversion towards the mean level @ 20%.”

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Quote of the Day:
Press on. Nothing in the world can take the place of persistence. Talent will not: nothing is more common than un-rewarded talent. Education alone will not: the world is full of educated failures. Persistence along is omnipotent.
-Calvin Coolidge [9], Thirtieth U.S. President (1923-1929)

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URL to article: http://www.ritholtz.com/blog/2004/10/chart-of-the-week-of-nasdaq-issues-at-30-day-lows/

URLs in this post:

[1] Image: http://bigpicture.typepad.com/photos/uncategorized/nasdaq_issues_at_30day_lows_1.jpg

[2] Redwood Technimentals : http://www.redtechresearch.com/cgi-bin/mesh/home

[3] 7 investment rules for a low-return world: http://moneycentral.msn.com/content/invest/mstar/P94117.asp

[4] A warning of lower returns: http://cbs.marketwatch.com/news/story.asp?dist=&param=archive&siteid=mktw&guid=%7BB5AB0908%2DCF58%2D4EDF%2D91AC%2DD44E52350CB9%7D&garden=&minisite=

[5] Oil May Rise From Record on U.S. Supply, Survey Shows: http://quote.bloomberg.com/apps/news?pid=10000006&sid=aKq62SQfB25E&refer=home

[6] Racing to Energy’s Great Green Future: http://www.businessweek.com/technology/content/oct2004/tc2004108_4026_tc181.htm

[7] Is Waiting for Job Data a Waste? : http://www.latimes.com/business/la-fi-petruno10oct10,1,4559962.column?coll=la-headlines-business

[8] The Crusade Against Evolution: http://www.wired.com/wired/archive/12.10/evolution.html

[9] Calvin Coolidge: http://www.whitehouse.gov/history/presidents/cc30.html

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