New stock market highs always bring calls for more new highs

Weekly Review: MAAD & CPFL Analysis

Conclusion

Movement by the major indexes last week was another vote of confidence for stock market optimists. The only problem with strength is that Cumulative Volume (CV) on the short-term trend continues to look anemic. While there could be some volume catch-up in the sessions just ahead, a CV volume failure would be the first time since the November lows that CV has failed so dramatically.

There is also the fact that strength in the market over the past two years, and since the intermediate-term highs of May 2011, was coincident with the peaking of all of our primary indicators. While the failure of the market to tack on the same stellar gains over the past two years in the face of a lack of indicator confirmation could be a matter of pure coincidence, it could also have something to do with indicator prescience on the long term trend. Until pricing ultimately decides the issue, we will defer to the balancing act between bid and ask.

MAAD daily daily for past 30 days*

CPFL daily data for past 30 days

Date

NYSE Adv

NYSE Dec

Date

OEX Call $Volume

OEX Put $Volume

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

 

4-1-13

4

14

4-1-13

15333

6586

4-2-13

12

5

4-2-13

15333

31968

4-3-13

3

17

4-3-13

9175

17447

4-4-13

16

4

4-4-13

14845

10894

4-5-13

9

10

4-5-13

13275

17987

4-8-13

17

3

4-8-13

10832

8968

4-9-13

13

6

4-9-13

11360

10496

4-10-13

17

3

4-10-13

39638

11701

4-11-13

12

8

4-11-13

40385

9040

4-12-13

4

16

4-12-13

15464

12492

4-15-13

3

17

4-15-13

13520

56778

4-16-13

17

3

4-16-13

11823

10672

4-17-13

2

18

4-17-13

27607

26623

4-18-13

5

15

4-18-13

26564

39801

4-19-13

13

7

4-19-13

40971

17022

4-22-13

14

5

4-22-13

17437

26235

4-23-13

16

4

4-23-13

32133

20086

4-24-13

13

7

4-24-13

5610

8239

4-25-13

14

6

4-25-13

40919

13473

4-26-13

10

10

4-26-13

11615

12478

4-29-13

16

3

4-29-13

14283

12393

4-30-13

13

7

4-30-13

8949

13960

5-1-13

6

14

5-1-13

13379

9682

5-2-13

17

3

5-2-13

19466

13886

5-3-13

17

3

5-3-13

41532

21636

*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

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

4-5-13

7

13

4-5-13

36138

75905

4-12-13

17

3

4-12-13

102421

24788

4-19-13

5

15

4-19-13

77064

98927

4-26-13

16

4

4-26-13

69002

47733

5-3-13

18

2

5-3-13

106307

39059

*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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