Saturday, May 2, 2015

It Was a Bad Week To Stop Sniffing Glue

S&P 500 
SPXA50R: % of stocks above 50 day moving average (red line)
The blue vertical line shows Monday's all time high in the index versus SPXA50R

The rotation out of the momentum stocks to defensive stocks was a non-event for the Dow:
% of stocks above 200 DMA

Nasdaq 100: Large Cap Tech and Biotech: