Market hits highs on lower volume, bearish volatility

Weekly Review: MAAD & CPFL Analysis

Conclusion

New all-time highs in the S&P 500, Dow 30, and Value Line index last week no doubt heartened the bullish crowd, but it remains to be seen if strength will prove to have been merely a little blow-off on weak volume following several days of hesitation -- or something of more importance. In the face of short-term statistics that remain “Overbought” and low volatility readings that are not bullish, we suspect buyers should proceed with caution.

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

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

2-25-13

2

18

2-25-13

10545

52295

2-26-13

14

5

2-26-13

15739

18237

2-27-13

17

3

2-27-13

24868

14009

2-28-13

7

13

2-28-13

26456

11302

3-1-13

15

4

3-1-13

18832

14308

3-4-13

15

4

3-4-13

8503

8242

3-5-13

17

3

3-5-13

23430

23985

3-6-13

15

5

3-6-13

19515

8208

3-7-13

14

6

3-7-13

14096

18490

3-8-13

10

9

3-8-13

34830

8963

3-11-13

15

5

3-11-13

34954

18636

3-12-13

5

15

3-12-13

29331

10362

3-13-13

8

11

3-13-13

5472

8436

3-14-13

16

4

3-14-13

25042

9248

3-15-13

6

14

3-15-13

67381

8340

3-18-13

5

15

3-18-13

11065

18340

3-19-13

8

12

3-19-13

21923

20821

3-20-13

16

3

3-20-13

9009

12273

3-21-13

3

17

3-21-13

12768

16775

3-22-13

13

5

3-22-13

13781

6357

3-25-13

4

16

3-25-13

13773

16175

3-26-13

15

4

3-26-13

21685

10591

3-27-13

10

8

3-27-13

6397

6315

3-28-13

12

7

3-28-13

8869

12160

3-29-13

Holiday

 

3-29-13

Holiday

 

*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

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

3-1-13

7

12

3-1-13

84043

45510

3-8-13

19

1

3-8-13

99617

35462

3-15-13

13

7

3-15-13

146291

30502

3-22-13

6

14

3-22-13

60614

38326

3-29-13

13

7

3-29-13

46289

19185

*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.

 

<< Page 5 of 5
About the Author
Robert McCurtain

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. 

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