Point & Go Figure: DELL, ZRAN
Feeling good, Louis!
The short-term conditions are positive for the majority of stocks, but nearing high-risk levels.
The NYSE and Nasdaq Composite Percent Above 50-day Moving Average Indicators are both in columns of Xs, but in corrective mode having recently exceeded previous columns of Os on the downside, and with field position at or near 70% exhibiting very high risk.
The NYSE High-Low Index is back in a column of Xs, but well above the high-risk 70% threshold at 86%. The Nasdaq Composite High-Low Index remains in a column of Os at 82%.
The long-term bullish percent indices for the broad NYSE and Nasdaq Composite indices are still in Xs, while the more narrow bullish percents for the S&P 500 and Nasdaq-100 (NDX) remain in Os. This continues the long-term pattern we have seen of fewer and fewer stocks participating in positive market movement.
(Chart courtesy Thomson Financial)
Meanwhile, note that DELL has just registered a TD-Sequential 13 "buy" signal on the daily chart.
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