McCurtain indicator update for March 12

By a hair, MAAD rallied to a new high Thursday and its best levels since the March 2009 price lows. MAAD is now in synch with CPFL that rallied to a new high on Monday (March 8). If current action holds, strength in both indicators could be an indication that the pullback that encompassed weaker prices from the middle of January to the first week of February was enough to reset the intermediate-term cycle once near-term prices excesses were worked off and intermediate statistics dipped quickly into “oversold” territory.

While we didn’t believe that new highs for the move would develop and even though neither the S&P 500 Index of the Dow Jones Industrial Average have made new highs (above 1150.45 and 10729.90, respectively), the NASDAQ Composite Index, the Down Jones Transportation Average, and the Russell 2000 have put in place new highs to suggest the bellwether indexes could soon follow suit.

Moreover, since our two key market barometers, CPFL and MAAD, are also at new highs for the move, to continue to adopt a bearish, larger cycle outlook at this point, even in the face of currently “overbought” Daily MAAD and CPFL Ratios, could prove to be imprudent.

We are updating the daily chart of both the Call/Put Dollar Value Flow Line (CPFL) and Most Actives Advance/Decline Line (MAAD) indicators every day and providing the most recent raw data so you can begin to plot the indicators on your own (see below). Here is the link to the weekly equity index indicator summary.

Click here for definitions of the indicators along with links to the original stories. Robert also describes these indicators in a recent I-Trade show presentation available online.

Click on charts to enlarge

MAAD data for past 30 days* CPFL data for past 30 Days

Date

NYSE Adv

NYSE Dec

Date

OEX Call $Volume

OEX Put $Volume

1-28-10

8

12

1-28-10

71376

145871

1-29-10

5

15

1-29-10

90158

163007

2-1-10

19

1

2-1-10

99416

150782

2-2-10

15

5

2-2-10

54523

84015

2-3-10

4

16

2-3-10

123257

79222

2-4-10

0

20

2-4-10

167554

245460

2-5-10

11

9

2-5-10

127615

253841

2-8-10

8

12

2-8-10

39731

74195

2-9-10

13

6

2-9-10

52146

97166

2-10-10

9

11

2-10-10

52253

90331

2-11-10

13

7

2-11-10

64247

47084

2-12-10

4

15

2-12-10

58269

61976

2-15-10

Holiday

2-15-10

Holiday

2-16-10

16

4

2-16-10

116077

60130

2-17-10

12

8

2-17-10

171751

50568

2-18-10

14

6

2-18-10

62422

42204

2-19-10

10

9

2-19-10

103190

51380

2-22-10

13

7

2-22-10

139899

35443

2-23-10

6

14

2-23-10

69573

74660

2-24-10

16

4

2-24-10

36350

29770

2-25-10

8

11

2-25-10

69545

64565

2-26-10

9

11

2-26-10

32711

30467

3-1-10

16

4

3-1-10

60014

38638

3-2-10

10

9

3-2-10

117313

51165

3-3-10

11

7

3-3-10

72093

33556

3-4-10

16

4

3-4-10

36815

42016

3-5-10

16

4

3-5-10

152611

37485

3-8-10

10

10

3-8-10

1507185

41172

3-9-10

15

5

3-9-10

89372

45511

3-10-10

15

5

3-10-10

93774

34334

3-11-10

11

7

3-11-10

47087

26732

*Note: Unchanged issues are not counted.

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