The three Daily charts below show the Percentage of Stocks Above their 20-50-200 Day Moving Averages. At the moment, they are all above 50%.
In the event that the 6 Major Indices and 9 Major Sectors drop and hold below their middle Bollinger Band on their Daily timeframe, I'd check to see if the percentage on the above referenced three charts also drops and holds below the 50% level. If all three fall and hold below, it's a likely confirmation of further weakness to come in the equity markets in the short, medium, and longer terms...possibly signalling a correction.
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
please read my full Disclaimer at this link.
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Jan. 31 @ 2:00 pm ET ~ FOMC Announcement
* Fri. Feb. 2 @ 8:30 am ET ~ Employment Data
* Mon. Feb. 19 ~ U.S. markets closed for Presidents Day Holiday
* Wed. Feb. 21 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Wed. Mar. 7 @ 2:00 pm ET ~ Beige Book Report
* Tues. March 20 ~ 2-day FOMC Meeting Begins
* Wed. March 21 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
*** Click here for link to Economic Calendars for all upcoming events