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Technical Watch Weekly Breadth Data - 4/17/15


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#1 fib_1618

fib_1618

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Posted 29 April 2015 - 11:49 AM

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Weekly Breadth Data, Week Ending April 17, 2015

Although the New York Composite Index was able to close at new all time highs, and the Mid Caps and Small Caps saw new all time intraday highs of their own on Wednesday, it wasn't quite enough for the rest of the market to follow suit and this triggered a rally failure on Friday with the major market indices closing down by an average of 1.07% from last week's settlement.

Since I'm on the road this week, there won't be a more detailed narrative. However, a quick recap of the breadth charts array shows that Friday's ambush by the sellers has provided a mixed picture, though on a near term basis, the downside move in prices has gotten a bit ahead of itself and a pattern reset between breadth and price is probable because of this. With this week's BETS index showing no change even with Friday's debacle, it's likely then that the buyers will make a valiant attempt to stabilize things early next week to regain their advantage, and it wouldn't be at all surprising that we'll see a higher close on a weekly basis when all is finally said and done.

Have a great trading week!

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Technical Watch's Breadth Data Review includes a weekend recap of hard to find breadth measurements from the New York Composite Index, the London exchange (FTSE), the Frankfurt exchange (DAX), Sydney's All Ordinaries index, and India's Bombay exchange (BSE). Charts are provided with a market narrative by Dave Breslaw and are annotated for additional clarity and suggested positioning. Also included with this service are occasional special posts of longer term data charts to provide a comparable historical context of how internal action of the markets (money flow) can have a direct effect on the direction of price itself. This service works hand in hand with the Chatting the Market subscription service as it provides additional global money flow insights found nowhere else on the internet. More information on subscribing to either or both services can be found by clicking here.

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