cumulative adv decl line

When was the last time the NYSE made a new high and the cumulative issues line didn't? Both the SPX and Rut2k are also at new highs with their respective cumulative issues still not making new highs. Still no short signal for me but its getting interesting.

Divergence... It only means that we need to pay attention. Divergences can persist for a long time. Many here can remember us talking about divergences in 1999, long before the market topped. Mark

Divergence...

It only means that we need to pay attention. Divergences can persist for a long time.

Many here can remember us talking about divergences in 1999, long before the market topped.

Mark

Right! I have warnings all over the place from valuations, sentiment etc. Still need breadth/liquidity to signal a turn for me. Things look to be slowly changing though.

The ratio adjusted NYSI failure to follow thru - let alone hold - on crossing over 500 back in July is not a good sign. It is fast approaching 0 from below - a similar failure now this time around its zero line - interesting times...

When was the last time the NYSE made a new high and the cumulative issues line didn't?

Both the SPX and Rut2k are also at new highs with their respective cumulative issues still not making new highs.

How about...when was the last time the NASDAQ Composite Index made a new price high and the NAAD (and NAUD) confirmed it?

I would pay more attention to the secondaries at this stage as they will usually top out well before the primaries...divergent or otherwise.

And isn't it interesting that the marketplace that the bears always point to as their go to proxy on all things market has been rarely mentioned with this latest round of bearish talk?

Dig deeper folks...and you'll find that things are far better than what you may be "feeling" with all of the distractions out there.

Fib

When was the last time the NYSE made a new high and the cumulative issues line didn't?

Both the SPX and Rut2k are also at new highs with their respective cumulative issues still not making new highs.

How about...when was the last time the NASDAQ Composite Index made a new price high and the NAAD (and NAUD) confirmed it?

I would pay more attention to the secondaries at this stage as they will usually top out well before the primaries...divergent or otherwise.

And isn't it interesting that the marketplace that the bears always point to as their go to proxy on all things market has been rarely mentioned with this latest round of bearish talk?

Dig deeper folks...and you'll find that things are far better than what you may be "feeling" with all of the distractions out there.

Fib

Bottom line though is that there is less participation. Yes, it can go on for awhile or it might not. Right now even with less participation (issues breadth), there is a pile on effect into Naz as other issues get left behind. Fewer and fewer things are moving up. In the late 90's it took a couple of years to play out. Does it repeat? I don't know. A turn down in the MCO and its components will signal.

I think you are seeing a speculative pile up Fib, I don't think it is long term bearish, but short term this is a blow off and we may not see an acceleration up before a visit to cleaners. SPX 1765 is still in the cards though for 2013...

Bottom line though is that there is less participation. Yes, it can go on for awhile or it might not. Right now even with less participation (issues breadth), there is a pile on effect into Naz as other issues get left behind. Fewer and fewer things are moving up. In the late 90's it took a couple of years to play out. Does it repeat? I don't know. A turn down in the MCO and its components will signal.

Participation is fine and dandy...and increasing.

What you're probably missing here is that we're getting more and more money moving into those issues that are more highly weighted in their respective indices, and why the price indices themselves "appear" to be leading (diverging). Watch the U/D data here...it's your ticket to correcting interpreting what's really going on right now....and stop listening to fundamental opinions that continue to distract than help.

Fib

Dig deeper folks...and you'll find that things are far better than what you may be "feeling" with all of the distractions out there.

Fib

Not one of the recent June graduates from 27th best rated university in world
have found jobs, from the vast circle of friends of my daughter who also graduated
with a degree in Law & Justice. She found a job in Spain teaching English for a 10
month project, after which she will attend law school. Yeah Fib, everywhere I look
in the stock market, thinks are just peachy.

I think you are seeing a speculative pile up Fib, I don't think it is long term bearish, but short term this is a blow off and we may not see an acceleration up before a visit to cleaners. SPX 1765 is still in the cards though for 2013...

It's funny how people see different things based on their environment.

For several years now, the balance of money has continued to move into equities on the premise that company earnings would continue to increase shareholder value.

Quarter after quarter this same money bet continues to be right (with all things being equal).

The only "speculative" thing that has been maintained over this same time is that those on the fundamental sell side continue to be wrong in their "guess" that all of the bad out there is eventually going to make them a lot of money. Meanwhile, 80% of the major market indices out there have moved into new all time high territory based on the technical end of the market...supply and demand. So until this changes, no matter what anyone "feels" or "knows" or "doesn't like" are going to continue to find it hard going in their effort to maintain capital preservation, no less, capital appreciation.

Yes, eventually, all of the fundamental stuff will matter. But as I've said many times before, this is not the time.

Not one of the recent June graduates from 27th best rated university in world
have found jobs, from the vast circle of friends of my daughter who also graduated
with a degree in Law & Justice. She found a job in Spain teaching English for a 10
month project, after which she will attend law school. Yeah Fib, everywhere I look
in the stock market, thinks are just peachy.

You're mixing market "participles". Fundamentals mean very little if the flow of money is able to provide enough of a base to where prices are able to be bid higher.

As far as your daughter is concerned, you should be proud that she had the burning desire to not only keep looking for work, but to also take advantage of an opportunity that may or may not fit into what her career goals might be.

One wonders if the other recent grads had the same motivation or just quit as so many like to do when faced with this same challenge that so many of us also faced.

Fib