Weekend Update

The SPX lost -5.62 points during the week (-.38%). The range for the week was 17.09, 1.17%. The four week RSI of the four indices (SPX, Dow, NASDAQ, and Russell 2000) is 82. Pullbacks often occur as this RSI reaches 80 and bounces near 20.

Total tick for the week was 74,000. On the NYSE, the advance/decline line decreased during the week by -1,172 and the 10 day average of Net Advancing decreased by -564. There were 886 New Highs and 38 New Lows.

For the week, Russell 2000 advancing issues (849) totaled 21,245,110 shares traded (25,024 average per stock) and declining issues (1,078) totaled 26,881,631 shares traded (24,937 average per stock.) 1,568 components are on a weekly uptrend (61 new uptrends this week) and 383 components are on a weekly downtrend (122 new downtrends this week.) There were 280 New Highs and 10 New Lows.

For the week, SPX advancing issues (178) totaled 46,760,062 shares traded (262,697 average per stock) and declining issues (320) totaled 90,185,317 shares traded (281,829 average per stock.) 414 components are on a weekly uptrend (14 new uptrends this week) and 86 components are on a weekly downtrend (28 new downtrends this week.) There were 82 New Highs and 3 New Lows.

Notice that both the Russell and the SPX sported twice as many new weekly down trend as new weekly uptrends despite each index having very small weekly losses.

For the week, NASDAQ Composite Index advancing issues (1,530) totaled 44,830,624 shares traded (29,301 average per stock) and declining issues (985) totaled 49,088,556 shares traded (49,836 average per stock.) There were 191 New Highs and 28 New Lows.

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