RE: Market Breadth Update
A number of changes in the various breadth indicators today (6/6/13), but I will save the majority for the weekend and just highlight a few tonight. Firstly the S&P 500 and Nasdaq 100 Bullish Percent Indexes saw changes today with the S&P 500 Bullish Percent ($BPSPX) reversing to a column of Os and changing to Bull Correction status. Whereas the Nasdaq 100 Bullish Percent ($BPNDX) made a triple bottom breakdown and is now on Bear Confirmed status.
The moving average breadth charts also saw a lot of downward movement and it was enough to cause the longer term NYSE Percentage of Stocks above their 200 day Moving Averages chart to make a double bottom breakdown below it's April column of Os and move to Bear Confirmed. So now the long term and short term moving average breadth charts are on Bear Confirmed status and the medium term NYSE Percentage of Stocks above their 150 day Moving Averages chart is on the cusp of joining them, and it's line chart did make a lower low today, but it just wasn't enough to add another O to the chart and so needs to close another 0.07 lower to go to Bear Confirmed also.
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.