RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis
S&P500 versus Russell 3000
There was a big down day Friday, not very visible on a chart that spans 2 years. However, it remains above the downtrend that has run for the last year and is above 4100 [1]. New Highs minus New Lows remained positive, and the Cumulative New Highs Minus new lows has crossed above its 100 day SMA [4]. The Wienstein Momentum and 1% A/D lines remain above their zero lines and are still headed upwards. The % stocks above their 20, 50 and 200 day EMAs and the gold and silver cross indices are all strong with the gold cross index [15] on the 50% mark headed upwards. The A/D line [2, red] and A/D volume [2, yellow] still confirm the recent high.This feels bullish despite Friday. Lets see how it goes.