Wednesday, April 15, 2009

Summation Index

The NYSE McClellan Summation index is poised to make new recovery highs by the end of the week. To add a bit of bull-bear perspective on this indicator, here's a wider chart

The NYSE Summation Index
Looks high? could go higher.
Click to enlarge

A bit more cautionary is the 50 day Bullish Percent Index (The percentage of NYSE Issues above their 50 day moving averages) This has reached previous peak levels but since the 200 Day Index is still below 25%, it seems likely to me that the 50 day may just dawdle above the 50% level foe awhile. Time will tell.

The NYSE Bullish Percent Index
Click to enlarge

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