Sunday, August 17, 2008

A Little Toppiness in the Stock Market?

After peaking on Monday, when we saw 2096 20-day highs and 699 lows, the cumulative NYSE TICK remained under pressure for most of the week. Though the market rose on Friday and new 20-day highs rose from 953 to 1285, we also saw an expansion of 20-day lows (from 499 to 547). I will be closely watching the cumulative TICK and 20-day highs/lows (which I post each AM via Twitter) to see if this represents a shift in market strength.