Bullish Percents getting a little toasty
Source: http://blog.fallondpicks.com/2008/05/bullish-percents-getting-little-toasty.htmlPosted on Wednesday, May 7th, 2008 | In Current Market News
Contributed by: Declan Fallon (http://www.zignalsblog.blogspot.com) -
Although not of immediate concern, some of the bullish percents are about to enter bear market (but not bull market) top territory. If January lows represent the start of a bear market then these breadth indicators should top soon. If the current rally is a continuation of the cyclical bull market then there is room for another 15-20% of gain (perhaps as much as 50% for the Nasdaq Bullish Percents).
How this impacts on the market remains to be seen, but the likely outcome would be a negative divergence between breadth indicators and the market; indices make new highs as bullish percents fall. Time will tell.
I’m traveling to D.C. so there will be no update tomorrow. INS appointment Friday.
Last 5 posts by Declan Fallon
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Tags for this Post:
Appointment, Bear Market, Breadth, Continuation, Current, Current Market News, Fall Time, Ins, Lows, Market Indices, nasdaq, Negative Divergence, New Highs, Percents, Rally, Toasty
Appointment, Bear Market, Breadth, Continuation, Current, Current Market News, Fall Time, Ins, Lows, Market Indices, nasdaq, Negative Divergence, New Highs, Percents, Rally, Toasty
 About Declan Fallon (http://www.zignalsblog.blogspot.com)
Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts, and stock charts website. It's our job at Zignals to give market participants all the information they need to make informed decisions; both fundamental and technical. |
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