Hats off once again to the fine Decision Point site, which separates out the common stocks from all the other NYSE issues for analysis. Above we see the advance-decline line (bottom pane) for NYSE common issues; clearly it's bounced nicely off its lows. The site also reports that 54% of NYSE issues are now trading above their 20-day moving averages and 18% are above their 50-day benchmarks. The latter is the highest percentage since the October market drop.
Friday also saw the number of NYSE, NASDAQ, and ASE stocks making fresh 20-day highs exceed new lows by 304 to 120. I will be watching those numbers closely; despite Friday's gains, we did not see an expansion of new 20-day highs. Friday's money flows were slightly negative for the Dow Industrial stocks at -$15 million, though the week's flows were modestly positive at $33 million. We will need to see continued expansion in new 20-day highs and continued positive money flow numbers to keep the rally going.
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