Value Line Index -- Contains 1700 stocks so its broader than the S&P 500 or the very narrow Dow 30 -- Looks good this week
- 96% Barchart technical buy signal
- Index up 1.14% for the week
- Index up 8.41% for the last month
- Closed Friday above its 20, 50 and 100 daily moving averages
- 14 day Relative Strength Index is 65.85% and rising
- Friday over 79.44% closed above their 20 DMA, over 82.13% closed above their 50 DMA, over 77.98 closed above their 100 DMA
- Last week over 81.54 closed above their 20 DMA, over 80.39% closed above their 50 DMA, over 74.08% closed above their 100 DMA
- Last month over 68.70% closed above their 20 DMA, over 64.41% closed above their 50 DMA, over 52.52% closed above their 100 DMA
- 1 month ratio of new highs/new lows -- 1062/149 = 7.13
- 3 month ration of new highs/new lows -- 620/47 = 6.39
- 6 month ratio of new highs/new lows -- 305/35 = 8.71
Jim Van Meerten is an advisor to Marketocracy Capital Management who uses his model portfolios not only to manage their mutual funds but also their clients Separately Managed Accounts. You can read his blogs about those model portfolios and investing here and on Barchart Portfolio Blogs. Please leave a comment below or email JimVanMeerten@gmail.com.
Disclosure: Jim Van Meerten through Marketocracy Capital Management has an interest in the stocks mentioned in this blog.