Short-term
weekly cycles can be skewed by excessive emotion – in this case greed – as
retail and institutional investors continue to push money into the market seeking
to capture the proverbial “last eighth.”
I would also point out that the NYSE Advance-Decline (A/D) line made a
token new high today (Feb. 6) even as the NYSE Composite Index did not. Leadership in the A/D line is usually
followed by a move higher in the indices.
[Excerpted from the Feb. 6 issue of the Momentum Strategies Report, www.clifdroke.com]
No comments:
Post a Comment