Conclusion
It is a certainty the bull market that began in March 2009 will end. For months there have been lingering contradictions. Some indicators like CPFL and longer-term Momentum, while participating on the upside since October 2011 and after the most severe correction in the bull trend, have done so with less enthusiasm than during the first leg up in the bull market that lasted until early May 2011. Others, like MAAD, have actually led the market at important turning points.
But the time will come when there will not only be indicator divergences, but prices in one index or another, such as with the S&P 500 and the Dow 30, will begin to falter compared to other indexes, such as the COMPX, VALUA, and TFY. Those contradictions are inevitable into a final long-term high and are simply suggestions the overall positive tone of the broad market may be changing to negative, lacking new highs in prices and the elimination of disparities in the indicators.
|
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 |
|
8-23-13 |
15 |
4 |
8-23-13 |
9071 |
30977 |
|
8-26-13 |
7 |
13 |
8-26-13 |
12717 |
65786 |
|
8-27-13 |
0 |
20 |
8-27-13 |
45177 |
61047 |
|
8-28-13 |
15 |
4 |
8-28-13 |
4443 |
40268 |
|
8-29-13 |
15 |
4 |
8-29-13 |
16417 |
63697 |
|
8-30-13 |
7 |
13 |
8-30-13 |
4341 |
40669 |
|
9-3-13 |
15 |
5 |
9-3-13 |
19151 |
10760 |
|
9-4-13 |
18 |
2 |
9-4-13 |
16402 |
44520 |
|
9-5-13 |
18 |
2 |
9-5-13 |
10876 |
7863 |
|
9-6-13 |
10 |
8 |
9-6-13 |
20113 |
13375 |
|
9-9-13 |
18 |
2 |
9-9-13 |
14877 |
16433 |
|
9-10-13 |
15 |
5 |
9-10-13 |
37460 |
21548 |
|
9-11-13 |
15 |
5 |
9-11-13 |
15050 |
30730 |
|
9-12-13 |
3 |
16 |
9-12-13 |
16370 |
23336 |
|
9-13-13 |
14 |
5 |
9-13-13 |
10668 |
4246 |
|
9-16-13 |
12 |
7 |
9-16-13 |
25807 |
43346 |
|
9-17-13 |
17 |
3 |
9-17-13 |
17778 |
10023 |
|
9-18-13 |
20 |
0 |
9-18-13 |
44523 |
34687 |
|
9-19-13 |
9 |
11 |
9-19-13 |
26912 |
17440 |
|
9-20-13 |
3 |
17 |
9-20-13 |
34321 |
28948 |
|
9-23-13 |
6 |
14 |
9-23-13 |
14829 |
37355 |
|
9-24-13 |
7 |
13 |
9-24-13 |
25829 |
49430 |
|
9-25-13 |
10 |
10 |
9-25-13 |
10517 |
39419 |
|
9-26-13 |
11 |
9 |
9-26-13 |
17990 |
17811 |
|
9-27-13 |
7 |
13 |
9-27-13 |
2903 |
47777 |
|
9-30-13 |
5 |
15 |
9-30-13 |
19369 |
35964 |
|
10-1-13 |
17 |
3 |
10-1-13 |
9773 |
21260 |
|
10-2-13 |
14 |
6 |
10-2-13 |
24406 |
27104 |
|
10-3-13 |
2 |
18 |
10-3-13 |
51247 |
60320 |
|
10-4-13 |
18 |
2 |
10-4-13 |
78764 |
19149 |
*Note: Unchanged issues are not counted.
|
MAAD weekly data for past 30 weeks** |
CPFL weekly data for past 30 weeks |
||||
|
Date |
NYSE Adv |
NYSE Dec |
Date |
OEX Call $Volume |
OEX Put $Volume |
|
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 |
|
7-5-13 |
11 |
9 |
7-5-13 |
79591 |
26170 |
|
7-12-13 |
18 |
2 |
7-12-13 |
145875 |
46051 |
|
7-19-13 |
12 |
8 |
7-19-13 |
60057 |
30066 |
|
7-26-13 |
9 |
11 |
7-26-13 |
39694 |
27418 |
|
8-2-13 |
16 |
3 |
8-2-13 |
52347 |
54888 |
|
8-9-13 |
9 |
11 |
8-9-13 |
44818 |
132161 |
|
8-16-13 |
5 |
15 |
8-16-13 |
49366 |
206060 |
|
8-23-13 |
12 |
7 |
8-23-13 |
39357 |
90644 |
|
8-30-13 |
1 |
19 |
8-30-13 |
64499 |
287292 |
|
9-6-13 |
18 |
2 |
9-6-13 |
62543 |
58305 |
|
9-13-13 |
18 |
2 |
9-13-13 |
89735 |
66677 |
|
9-20-13 |
17 |
2 |
9-20-13 |
99524 |
121395 |
|
9-27-13 |
9 |
11 |
9-27-13 |
41276 |
194942 |
|
10-4-13 |
10 |
8 |
10-4-13 |
55191 |
147092 |
**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.