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NYSE Moving Balance Indicator

Jun 05 2020

“Not Quite” Super

  • Jun 5, 2020

The average “super-overbought” MBI reading occurred 54 days after a market low; June 4th marks the 51st trading day since the March 23rd low. Thus, any signal in the days ahead would arrive essentially “on time,” but the slippage (the S&P 500 gain already realized) would be enormous at around 40%!

Jun 05 2020

Revenge Of The Nerds?

  • Jun 5, 2020

Last month we detailed two technical shortcomings of the rally off the March 23rd market low. The stock market duly noted our critique and has issued its response.

May 07 2020

A Bounce Without “Oomph”

  • May 7, 2020

One would think that one of the most explosive market rallies of all time would trip-off all the traditional “breadth thrust” signals, or maybe even invent a few of its own. Sorry, no luck.

Apr 24 2020

This Bounce Lacks “Oomph”

  • Apr 24, 2020

Through last night’s close, the S&P 500 had gained 25.0% in exactly one month. Impressive, but a bit superficial. Anyone running active equity portfolios recognizes the breadth of this move has been unusually narrow.