Value Line Index -- Contains 1700 stocks -- Much broader than the S&P 500 or very narrow Dow 30 -- Index still positive
- Index up on 4 of the last 5 days for a weekly gain of 1.17%
- Index up for the 4th week in a row
- Index up for the 3rd month in a row
- Barchart technical indicators have 12 of 13 buy signals
- Barchart technical rating of a 96% buy
- Index closed Friday above its 20, 50 and 100 day moving average
Barchart Market Momentum -- Contains over 6000 stocks -- Percentage of stocks closing above their daily moving averages for various time periods -- Still over 50% closed above their DMAs
- 20 DMA -- 68.16% closed above this week -- 71.55% last week -- 80.95% last month
- 50 DMA -- 83.11% closed above this week -- 84.68% last week -- 82.82% last month
- 100 DMA -- 83.72% closed above this week -- 83.8.3% last week -- 82.74% last month
Ratio of stock hitting new highs to new lows for various time periods -- 1.0+ bullish, 1.0 neutral, below .99 bearish -- Bullish for all time periods
- 1 month ratio of new highs/new lows -- 1039/409 = 2.54
- 3 month ratio of new highs/new lows -- 825/89 = 9.27
- 6 month ratio of new highs/new lows -- 679/51 = 13.31
Investment Strategy -- Since the market still seems to be in an upward climb I'll continue to cull stocks that are not maintaining a price above their 50 day moving average and replace them until I see a market pull-back.
Wall Street Survivor Results -- The columnists on Top Stocks have a little friendly competition over on Wall Street Survivor. This month I got a lucky and have a 5.88% return so far compared to the S&P 500 return of 1.94%. The Motley Fool All-Stars are right on my heels with a return this month of 3.41%.
Jim Van Meerten is an investor who writes on financial matters here and on Financial Tides. Please leave a comment below or email JimVanMeerten@gmail.com.
Disclosure: I do not hold positions in the stocks mentioned