glgene
616 posts
msg #98855
- Ignore glgene |
2/2/2011 12:24:15 AM
I read somewhere tonight that 81% of the Dow 30 stocks are over their 200-day simple moving average and, accordingly, that is one more sign that the stock market is overbought.
I wrote this 2-line script, and found that 27 stocks > 200 SMA. That equals 90%.
Either way, I'm curious if this Dow 30 measurement is really considered an overbought condition?
|
novacane32000
331 posts
msg #98858
- Ignore novacane32000 |
2/2/2011 5:41:19 AM
Technically,yes ,you could probably find an indicator that will tell you that based on historical price movement the DOW is overbought.
With that said I'm not fighting the trend which trumps all indicators.
|
glgene
616 posts
msg #98860
- Ignore glgene |
2/2/2011 6:58:37 AM
Lost 1 of the Dow 30 by 10:30 today. Now at 26 > 200 MA.
|
ricks_stocks
35 posts
msg #98861
- Ignore ricks_stocks |
2/2/2011 7:59:54 AM
The Dow Trucking Index is rolling over
http://blog.kimblechartingsolutions.com/2011/02/trucking-rollover/
|
jimvin
173 posts
msg #98868
- Ignore jimvin |
2/2/2011 4:45:48 PM
Short answer, "Yes" according to some techical analysts.
More comples answer; here's a link that offers a brief but detailed discussion:
http://www.thedowjonesclimax.com/
Un-asked question: Does it matter?
My response to the latter would be: It depends on your filter(s) and your trading style. Most of the filters I use are robust, so on the whole they return decent positive gains (3% to 5%) even when the market moves down. My trading style is buy on Monday at open and sell before Friday at 3:30, with a set 5% stop-loss. Longer-term traders and/or those using more sensitive filters may find that this technical indicator has more impact on their strategy.
|
glgene
616 posts
msg #98870
- Ignore glgene |
2/2/2011 7:40:24 PM
Jim,
It appears the web site you mentioned has gone asleep. ???
|
mystiq
650 posts
msg #98871
- Ignore mystiq
modified |
2/2/2011 11:58:44 PM
jimvin
msg #98868
- Ignore jimvin 2/2/2011 4:45:48 PM
Short answer, "Yes" according to some techical analysts.
More comples answer; here's a link that offers a brief but detailed discussion:
http://www.thedowjonesclimax.com/
Un-asked question: Does it matter?
My response to the latter would be: It depends on your filter(s) and your trading style. Most of the filters I use are robust, so on the whole they return decent positive gains (3% to 5%) even when the market moves down. My trading style is buy on Monday at open and sell before Friday at 3:30, with a set 5% stop-loss. Longer-term traders and/or those using more sensitive filters may find that this technical indicator has more impact on their strategy.
===
~went to site and started SF code for The Climax Indicator & the Net Field Indicator
*but cannot TOTAL the Climax Indicator(clx) or Net Field Indicator(nfi) as a column STAT...any suggestions are welcome (-.-)*
..also for SHORT INTEREST checkout www.nasdaq.com/quotes/short-interest.aspx
data: 02/02/11 CLI->guage short-term technical strength-8 NFI->guage long-term technical strength+7
|
mystiq
650 posts
msg #98872
- Ignore mystiq |
2/3/2011 3:32:47 AM
?
|
jimvin
173 posts
msg #98888
- Ignore jimvin |
2/3/2011 3:23:18 PM
I've got no explanation for the slumbering we-site; I copied and pasted the link and it came up immedaitely...as of 1 minute ago. Give it another shot - .
|