Percentage of stocks trading above their 200 day moving averages: 74% This is very high and has often signalled either a period of correction or consolidation.
Percentage of stocks trading above their 40 day moving averages: 54%. This is down from a high in mid-February of nearly 85% and is indicative of the fact that breadth on the exchanges has been declining in recent weeks. This means that the advance is being led by fewer companies.
New high/low ratio: 74%. Again an elevated reading.
26 Week New High/Low ratio: 82%. Also elevated.
Our proprietary money flow analysis statistics:
Short term: Overbought and declining.
Intermediate: Overbought.
Longer term: Overbought.
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