Conclusion
Selling last Wednesday and Thursday with lukewarm recovery in the major indexes on Friday has left a chink in the armor of the rally that began after the November intermediate term lows, let alone over the past two years and since the spring of 2011 when our key indicators peaked out.
Because there were buyers who surfaced just under the market late last Thursday and into Friday’s session, we cannot presume this market is necessarily down for the count. But there is also a truth that the rapidity of the decline last Wednesday and Thursday could translate into more concerted negativity on the short-term trend that could quickly affect an “Overbought” Intermediate Cycle that continues to face longer-term obstacles such as fading Momentum and a lack of interest as measured by investor participation.
|
MAAD daily data for past 30 days* |
CPFL daily data for past 30 days |
||||
|
Date |
NYSE Adv |
NYSE Dec |
Date |
OEX Call $Volume |
OEX Put $Volume |
|
1-10-13 |
17 |
3 |
1-10-13 |
17253 |
12394 |
|
1-11-13 |
10 |
10 |
1-11-13 |
21372 |
8073 |
|
1-14-13 |
8 |
11 |
1-14-13 |
25044 |
8390 |
|
1-15-13 |
10 |
10 |
1-15-13 |
6735 |
7626 |
|
1-16-13 |
10 |
10 |
1-16-13 |
9145 |
14231 |
|
1-17-13 |
11 |
8 |
1-17-13 |
17630 |
15208 |
|
1-18-13 |
12 |
7 |
1-18-13 |
30618 |
15985 |
|
1-21-13 |
Holiday |
1-21-13 |
Holiday |
||
|
1-22-13 |
11 |
9 |
1-22-13 |
13881 |
14187 |
|
1-23-13 |
8 |
12 |
1-23-13 |
11642 |
7175 |
|
1-24-13 |
11 |
9 |
1-24-13 |
12868 |
13706 |
|
1-25-13 |
15 |
5 |
1-25-13 |
45897 |
12776 |
|
1-28-13 |
10 |
9 |
1-28-13 |
9419 |
33969 |
|
1-29-13 |
12 |
8 |
1-29-13 |
12384 |
7416 |
|
1-30-13 |
10 |
10 |
1-30-13 |
13203 |
10238 |
|
1-31-13 |
6 |
14 |
1-31-13 |
4509 |
11894 |
|
2-1-13 |
17 |
3 |
2-1-13 |
17057 |
14662 |
|
2-4-13 |
4 |
16 |
2-4-13 |
18445 |
18181 |
|
2-5-13 |
17 |
3 |
2-5-13 |
25202 |
18738 |
|
2-6-13 |
11 |
9 |
2-6-13 |
22708 |
6372 |
|
2-7-13 |
6 |
14 |
2-7-13 |
10706 |
8964 |
|
2-8-13 |
12 |
8 |
2-8-13 |
11757 |
10102 |
|
2-11-13 |
15 |
5 |
2-11-13 |
7341 |
9714 |
|
2-12-13 |
14 |
6 |
2-12-13 |
14035 |
10674 |
|
2-13-13 |
9 |
11 |
2-13-13 |
22996 |
19130 |
|
2-14-13 |
10 |
9 |
2-14-13 |
22966 |
6378 |
|
2-15-13 |
6 |
13 |
2-15-13 |
39599 |
8680 |
|
2-18-13 |
Holiday |
2-18-13 |
Holiday |
||
|
2-19-13 |
15 |
5 |
2-19-13 |
59240 |
9448 |
|
2-20-13 |
1 |
19 |
2-20-13 |
9641 |
28039 |
|
2-21-13 |
3 |
17 |
2-21-13 |
26937 |
21352 |
|
2-22-13 |
16 |
4 |
2-22-13 |
13544 |
8585 |
*Note: Unchanged issues are not counted.
|
MAAD Weekly data for past 30 Weeks** |
CPFL data for past 30 Weeks |
||||
|
Date |
NYSE Adv |
NYSE Dec |
Date |
OEX Call $Volume |
OEX Put $Volume |
|
8-3-12 |
14 |
4 |
8-3-12 |
189964 |
56326 |
|
8-10-12 |
18 |
2 |
8-10-12 |
127913 |
51441 |
|
8-17-12 |
11 |
9 |
8-17-12 |
168381 |
34193 |
|
8-24-12 |
5 |
14 |
8-24-12 |
61567 |
91299 |
|
8-31-12 |
4 |
16 |
8-31-12 |
27713 |
56889 |
|
9-7-12 |
17 |
2 |
9-7-12 |
192729 |
30202 |
|
9-14-12 |
17 |
3 |
9-14-12 |
295058 |
62406 |
|
9-21-12 |
4 |
16 |
9-21-21 |
140898 |
41443 |
|
9-28-12 |
6 |
14 |
9-28-28 |
68066 |
104869 |
|
10-5-12 |
15 |
5 |
10-5-12 |
82790 |
46425 |
|
10-12-12 |
4 |
16 |
10-12-12 |
23119 |
203431 |
|
10-19-12 |
10 |
10 |
10-19-12 |
40632 |
219576 |
|
10-26-12 |
6 |
14 |
10-26-12 |
43539 |
151159 |
|
11-2-12 |
15 |
5 |
11-2-12 |
31681 |
39436 |
|
11-9-12 |
0 |
20 |
11-9-12 |
51223 |
261506 |
|
11-16-12 |
3 |
17 |
11-16-12 |
104817 |
333252 |
|
11-23-12 |
18 |
2 |
11-23-12 |
136708 |
34280 |
|
11-30-12 |
12 |
8 |
11-30-12 |
152468 |
59828 |
|
12-7-12 |
15 |
5 |
12-7-12 |
53407 |
49271 |
|
12-14-12 |
10 |
10 |
12-14-12 |
51445 |
98445 |
|
12-21-12 |
14 |
6 |
12-21-12 |
216650 |
126720 |
|
12-28-12 |
5 |
15 |
12-28-12 |
19431 |
48587 |
|
1-4-13 |
19 |
1 |
1-4-13 |
142605 |
25100 |
|
1-11-13 |
13 |
5 |
1-11-13 |
90566 |
22250 |
|
1-18-13 |
11 |
8 |
1-18-13 |
75858 |
37446 |
|
1-25-13 |
12 |
7 |
1-25-13 |
67580 |
24811 |
|
2-1-13 |
14 |
6 |
2-1-13 |
47418 |
27737 |
|
2-8-13 |
10 |
9 |
2-8-13 |
79635 |
31633 |
|
2-15-13 |
11 |
9 |
2-15-13 |
81129 |
33755 |
|
2-22-13 |
4 |
16 |
2-22-13 |
92498 |
42338 |
**Note: All data is for calendar week ending on Friday even though ending date may be a holiday. Unchanged issues in MAAD calculations are not counted.
About the Author
Robert McCurtain is a technical analyst/market timer, private investor and financial markets consultant based in New York City. He 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. A two-part series about system development with the MAAD also is available.