Market Internals

The S&P 500 is currently trading just above its 50-day moving average (as of Friday morning) right in the middle of its trading range.  While the index has been bouncing off the top and bottom of an upward sloping channel since the July lows, a one-year chart shows a longer-term downtrend still solidly in place (first chart below).  When looking at the ten-day number of daily advancers minus decliners in the S&P 500, it shows the index slightly overbought, but less so than it was a couple of days ago.

click to enlarge

Comments

[Briggsy:]

I'm paying much more attention to weekly charts than daily charts now, thanks to David Fry.

Six weeks of straight up action in the Russell sure makes a pullback look imminent.

2008 Aug 17 12:01 PM

[User 244491:]

What you wanted to say with your research?
Do you have any idea that market don't care about any averages when it is poised for a crash,do you know that 99% of american investor's account is bleeding,do you know that while you was at Wal Mart buying 50$ suite and cheap after shave your country United States of America just went bankrupt.

2008 Aug 17 12:40 PM

[whidbey:]

What is your point? I read your postings/ research which must be classed as obvious, at best, and wickedly boring at worst , and I always wonder what I am doing looking at your work again?
You must think we are cave dwellers. Trivial is never justified!!

2008 Aug 17 09:23 PM

[dc1:]

It's not trivial to everyone.

2008 Aug 18 12:36 PM

[xander:]

thank you

2008 Aug 19 02:30 AM