Again, short-term breadth measures are signaling that a bounce is imminent.
The two short-term breadth indicators are the red and green lines.
The red line is a measure of the number of stocks trading above their 5 day moving averages. Anything under 700 usually brings a bounce. It is currently at 492.
The green line is the Decliners Indicator. I recently put up some performance results and a summary of how this indicator works here. Those results used 90 as a trigger. The indicator is currently reading 86.9.
Combine these breadth readings with 50 day moving average support just beneath today’s close and we have a setup for another quick bounce.
matches what I wrote about in the KoPG post 🙂
Have you tried stratasearch software???
Bill
no, haven’t heard of it. Are you checking it out?
as much as i can..looks good..takes a long time but hopefully can get me some gode index based systems.
Bill
Thanks Bill, I’ll take a look at it. You still using Amibroker?