'Overbought' market marches on toward major resistance

We are also 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). The weekly equity index indicator summary provides longer-term commentary based on these indicators.

The definitions of the indicators along with links to the original stories provide helpful background. Also, Robert describes these indicators in a recent I-Trade show presentation available online.

Click 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

9-15-11

18

2

9-15-11

105735

29793

9-16-11

10

10

9-16-11

201966

76148

9-19-11

4

16

9-19-11

41680

45169

9-20-11

5

15

9-20-11

28947

52027

9-21-11

1

19

9-21-11

16580

56439

9-22-11

1

19

9-22-11

43737

189046

9-23-11

15

5

9-23-11

36209

75962

9-26-11

16

4

9-26-11

38003

64487

9-27-11

16

4

9-27-11

61643

101582

9-28-11

0

20

9-28-11

17255

67111

9-29-11

15

5

9-29-11

40247

64690

9-30-11

0

20

9-30-11

29615

157176

10-3-11

1

19

10-3-11

31140

119159

10-4-11

17

3

10-4-11

135619

162696

10-5-11

18

1

10-5-11

62550

58171

10-6-11

19

1

10-6-11

51849

35141

10-7-11

5

15

10-7-11

41682

84455

10-10-11

18

2

10-10-11

74206

70175

10-11-11

14

4

10-11-11

38343

54933

10-12-11

18

2

10-12-11

93491

99714

10-13-11

9

11

10-13-11

60516

60107

10-14-11

19

1

10-14-11

46075

28543

10-17-11

4

16

10-17-11

36424

91068

10-18-11

19

0

10-18-11

130270

49629

10-19-11

3

17

10-19-11

106601

55205

10-20-11

12

8

10-20-11

51476

61401

10-21-11

18

2

10-21-11

173325

55947

10-24-11

19

1

10-24-11

50710

46919

10-25-11

3

17

10-25-11

124067

80552

10-26-11

13

7

10-26-11

72081

29996



*Note: Unchanged issues are not counted.

Robert McCurtain is a technical analyst/market timer, private investor and financial markets consultant based in New York City. He is a member of the Market Technicians Association and can be reached at traderbob@nyc.rr.com.

If you would like to read more about how the CPFL is constructed, read a Futures article on the concept. This link will take you to the MAAD article.

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