Market is fine and so is my portfolio

I'm back from a little vacation, had to go to a reunion of my alma mater, Fort Lauderdale High School - Home of the Mighty Flying L's. The market did fine without me. As always I look at the same market momentum indicators on BarChart to get a sense of the trend of the market.

Value Line Index - an index of 1700 stock followed by Value Line -- Bullish

1. BarChart has 12 of its 13 technical indicators as buy with only one hold
2. The index is plotting above its 20, 50 and 100 day moving averages

BarChart Market Momentum -- what percentage of stocks are trading above their Daily Moving Averages? Approximately 5800 stocks tracked -- Bullish

1. 20 DMA -- 67% above
2. 50 DMA -- 77% above
3. 100 DMA -- 86% above

Ratio of stocks hitting new highs to new lows for various periods -- above 1.1 Bullish, 1.0 Neutral, below .9 Bearish -- This week -- Bullish

1. 20 day new high/new low ratio 691/239 = 2.9
2. 65 day new high/new low ratio 519/71 = 7.3
3. 100 day new high/new low ratio 490/216 = 2.3

All three ways I evaluate the market show that at the present time the market is trending upward and no reason to panic. As always have protective stop losses for unexpected bad news.

On my Wall Street Survivor portfolio all of my positions are trading above their 50 day moving averages so I'm not making any changes at this time. My month to date return is 5.69% good enough to put me in second place among the other Top Stock bloggers. I pick the month to date because that is the longest time period that we were all in the contest at the same time.

Jim Van Meerten is a full time investor and blogs here and on Financial Tides. Please comment below or email to FinancialTides@gmail.com

Disclosure: I do not hold any positions in the stocks contained in my Wall Street Survivor portfolio