Another way of considering the same divergence is to look at the 50-day Moving Average (dMA) of the percentage of stocks advancing on the NYSE. On 18 March the percentage of stocks that have advanced over the last 50-days (on average) was 55%. That number is now 53%, so fewer stocks have been advancing recently. Still another way of looking at similar trends is to consider the number of stocks trading above their 200-dMA. That value was 59% as of Fridays’ close. It was around 70% on April 1st. Looking at charts, when this value has fallen below 61%, it has indicated trouble for the markets; it looks like we’re due for some trouble….But…market internals are almost positive so the short term may be reversing up.
MY INVESTED POSITION
Motley Fool suggests that the owners of floating rigs have overbuilt and rig-rentals and revenues will fall in the future. Commentary at…