Friday, April 09, 2010
An Intraday Look at a Momentum Measure
This display from Barchart gives a five-minute perspective over the past three days, tracking the percentage of stocks trading above their 20-day moving averages. We can see that today's levels are below those of two days ago, indicating no swell of upside momentum as we trade near the bull highs. Notice also how the percentage of stocks above their moving averages has stayed in a narrow range through the day today--yet another indication of a range day.