Wednesday, November 11, 2009

Divergence anyone?

Lots of divergence going on in the market, SPX is making new intra-day highs(has not made a new closing high) while breadth indicators and indicators that are not following this trend. 

NYAD- the last rallies were lead by the a higher highs on NYAD

TICK- the moving averages on tick are trending down, the last rallies they moved up with the market.

NYHL- (New High's and New Lows')- Last time stocks made new highs with the market.  Doesn't mean it can't happen but if the market is making new highs, so should stocks.


SPX (hourly)- MACD divergence, also notice the bullish divergence on the MACD before the rally.

SPX (daily)- MACD Divergence


IYT- Transports, double divergence on the MACD and with Dow Theory.  Trannies should be making new highs with the market

$USD- Bullish Divergence, MACD not making new lows, USD is.