Tuesday, April 28, 2009

Internals of the Market today


Internals were interesting today:

$NYMO- Down again today, 2 days in a row. The moving averages are moving down predominately now.



$NYAD- Ticked up today, but the power of the moves up has been weakening. Still watching for this to decline.




$NYSI- still moving up, but slowing down today was another day when it barely moved up. The MACD histogram has been declining, so this is showing divergence.


The internals are pointing to weakness, which corresponds with the market indecision/weakness lately. The key will be if these indicators follow through on the weakness and if the market can follow through. i.e does NYMO break zero, NYSI turns down or NYAD breaks the trendline, or could the move down be an opportunity to regroup and start another advance, since the market is at support levels.