The $NYSI joined the $NYAD's and issued a buy signal today, the MACD is also in the process of giving a buy signal.
My "Market Monitor" hit a new milestone today by hitting the greatest number of stocks that are up 4% for the week, 1591 out of 2904 stocks. I have it outlined in RED, as I, "THOUGHT", this was a negative, like, EXHAUSTION!
But I went back and looked at the other periods that were close to this number, and was surprised:
The green arrows point to 7/1/2013, 1369 stocks higher, 7/11/2013, 1326 higher, 9/10/2013, 1167 higher, 10/16/2013, 1332 higher, and:
2/12/2014, 1261 stocks higher. As you can see, all those readings basically appeared in the MIDDLE of the moves, and led to much higher index prices.
Three of those occurrences were followed by three day pull backs or a sideways consolidation, which is what I will be looking for (HOPEFULLY!!), before entering.