Friday, May 1, 2015

New All Time Lies

The S&P, Nasdaq and Russell all made new highs on Monday, then sold off for the week overall
The Dow, Transports, Utilities, Energy, Materials, Resources, Consumer staples, Financials, Healthcare, Biotech, Construction, Home builders, Machinery, Shipping, Semiconductors failed to confirm.
Shorts were forced to cover ahead of the weekend, to ensure they would be the usual bagholders of weekend risk. A new gap below, then back at trendline. What could go wrong?

NYSE 52 week highs (50 day moving average): Not necessarily what you would expect at a new all time high:

Nasdaq stocks making new highs this week...

Weekly money flow:

Momentum (3 day moving average):

Transports ratio of S&P 500

Mind the gaps