Stock market range-bound with slight advantage to bears

Weekly Review: MAAD & CPFL Analysis

Conclusion

The stock market, as measured by major index pricing and most of our key indicators remains stuck between near-term resistance and support. Nothing but new highs will eliminate the resistance part of the equation while weakness below supports would likely confirm a reversal of the Intermediate Cycle uptrend begun last November to negative.

If the former and more bullish scenario develops, new highs would re-assert Intermediate and the Major Cycle uptrends. But if supports are terminated and new short-term lows develop along with a new Intermediate Cycle negative, the extent to which that trend might unfold would determine the staying power of the bull market that is four-plus-years-old, a trend that is mature by all historical standards.

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

5-17-13

18

2

5-17-13

52163

18463

5-20-13

12

7

5-20-13

55188

9911

5-21-13

14

6

5-21-13

21442

14454

5-22-13

6

14

5-22-13

34137

44202

5-23-13

7

13

5-23-13

54072

26123

5-24-13

7

13

5-24-13

23756

26622

5-27-13

Hol

---

5-27-13

Hol

---

5-28-13

14

6

5-28-13

18897

26818

5-29-13

9

10

5-29-13

31332

19318

5-30-13

16

3

5-30-13

21198

16440

5-31-13

1

19

5-31-13

14444

73380

6-3-13

12

8

6-3-13

32908

28279

6-4-13

8

12

6-4-13

19870

17545

6-5-13

1

19

6-5-13

31541

52720

6-6-13

16

4

6-6-13

49254

41512

6-7-13

14

6

6-7-13

54078

24555

6-10-13

11

8

6-10-13

22738

15800

6-11-13

2

18

6-11-13

31570

15611

6-12-13

3

16

6-12-13

16856

54812

6-13-13

15

5

6-13-13

54829

27474

6-14-13

4

16

6-14-13

21615

25234

6-17-13

18

2

6-17-13

14895

20292

6-18-13

18

2

6-18-13

26356

10390

6-19-13

3

17

6-19-13

9214

19005

6-20-13

1

19

6-20-13

34878

122103

6-21-13

10

10

6-21-13

21232

41894

6-24-13

3

17

6-24-13

31707

39671

6-25-13

15

5

6-25-13

20941

13480

6-26-13

15

5

6-26-13

21559

18482

6-27-13

18

2

6-27-13

21085

21086

6-28-13

10

10

6-28-13

17627

16807

*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

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

5-10-13

16

4

5-10-13

101919

27785

5-17-13

16

4

5-17-13

264768

40669

5-24-13

7

13

5-24-13

133188

105220

5-31-13

10

10

5-31-13

52189

172660

6-7-13

14

6

6-7-13

208337

89250

6-14-13

6

14

6-14-13

84672

121886

6-21-13

4

16

6-21-13

47968

226866

6-28-13

16

4

6-28-13

102801

64660

**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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