Blog Post On: 5/2/2010
Due to issues with the data provider that we user for AMIBroker (PremiumData.net) there will not be an Advance/Decline Line chart in this post. PremiumData has not reported data for the ADLines for two weeks. Hopefully they will resolve this issue on Monday.
The Value Line Index broke the up-trend line. The major indexes broke the uptrend as well and are now sitting on support.
Stock Market Timing Model (MTR-TM): Market Up Signal on 2/17/2010
- MTR-I: -3.15 Week over Week. A market down signal forecast for Tuesday may appear after the close on Monday.
- RSI: Currently at 53.92, below 50 is negative. If we get a bounce off of 50 there may be some additional upside.
- MACD: Extreme level, below 0 is negative
- Volume: Friday volume does not qualify as a distribution day, but the volume was still high.
The major indexes all broke the uptrend with the NYSE now sitting on support. The market appears to be weighing some "options" as to more downside movement. If RSI breaks below 50 that could indicate a down trend is underway.
