Some other data points and thoughts this weekend:
Bearish
- OEX put/call at 1.85 - bearish
- AAII bulls at 53%
Bullish
- SPX COTS commercial trader positions still net bullish
- NYSE and Nasdaq short interest at highest level ever (NYSE short ratio over 9:1)
- Hedges Funds are more net short than any time since 2005
- 5 and 60 minute TICK on NYSE is moving toward oversold (backed off from overbought on Nasdaq)
- OEX broke above Gann Angle and 50% retrace resistance (chart below)
Stuff
- The internals look much better on the NYSE, while the price/volume charts look better on the COMPQ
- The volume internals look better on the COMPQ than the advance/decline charts do
Chart courtesy of Stockcharts.com
Post Modified: July 3rd, 2008 at 12:24 am
Tags: Market Internals · Nasdaq Charts · NYSE · OEX · Standard and Poor's 500 (S&P500)No Comments
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.