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NASDAQ High/Low Logic Index

Apr 08 2021

Reading The Short-Term Tea Leaves

  • Apr 8, 2021

The stock market’s technical backdrop remains pretty hard to assail, as evidenced by the current +4 reading on the revamped MTI’s Technical category. But there are a few short-term cracks that bear watching. 

Apr 07 2020

How To Tell When Sellers Are “Exhausted”

  • Apr 7, 2020

NASDAQ was the superstar of the bull market yet, ironically, it was a NASDAQ breadth measure that periodically signaled that all was not well beneath the market’s surface.

Dec 06 2019

A Tough Tape To Read

  • Dec 6, 2019

Over the nearly two years since the stock market’s “momentum” peak in January 2018, the S&P 500 has gained less than 9%, while the Value Line Arithmetic Composite is unchanged. Mid Caps and Small Caps have made no upside progress during this period and most foreign markets are down.

Sep 07 2019

A Final Warning

  • Sep 7, 2019

This Stock Market section’s unifying theme has been that of an historically two-tiered market, one in which Domestic, Large Cap, Growth, Consumer-oriented, and Low Volatility stocks have reigned supreme.

Aug 07 2019

August Is No Time To Disconnect

  • Aug 7, 2019

Rather than stocks disconnecting from the economy, as some equity bears contend, we see the blue chips disconnecting from the rest of the market. The underperformance of leading groups, along with multimonth divergences in momentum, bullish sentiment, and credit spreads are all consistent with the deteriorating prospects for earnings and the economy.

Jul 05 2019

Breadth: Is It Different This Time?

  • Jul 5, 2019

The granddaddy of all technical indicators—the NYSE Daily Advance/Decline Line—continues to make new highs alongside the S&P 500, suggesting the market should move to even higher (but perhaps narrower) highs well into the fall. As noted a month ago, we increasingly suspect that granddaddy may be telling a lie.

Feb 07 2019

Are New Lows The Key To New Highs?

  • Feb 7, 2019

Last year’s market decline was one of the largest to have occurred without a lengthy-preceding period in which breadth narrowed and Small Caps significantly underperformed.