Always consider hidden risks
NYSE New Highs / New Lows and SP500: Divergence ?
July 21 ( From Stockcharts )
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Even the main technical indicators like the Ratio on the NYSE 52 Week Highs and
52 Week Lows compare to the SP500 are pushing valuation to the limit on a ratio
basis for a final push towards higher prices in 2015...
And since July 8, that ratio is in strenghtening mode.
( See chart below )
This Indicator is in a Lower Highs and Lower Lows Technical Pattern
and in total divergence from the SP500 Index near all time high.
( See chart below - Ellipses )
The SP500 is trading within a Rising Wedge that started back in December 2014.
( See chart below - Trendlines )
But the most interesting fact is that the NYSE Index compare to the Mighty SP500 Index reached a level on July 20 2015 not seen since February 2001 and are not near a Major Reversal as the 20 DMA ( Day Moving Average ) is still downward. So underperformance of the NYSE over the SP500 prevail.
( See 3rd chart below - Red Line and Ellipses ).
NYSE New Highs / New Lows and SP500: Divergence ? $SPY #Trading #investing #nyse #SP500
NYSE 52 Week Highs and 52 Week Lows ( Dots - 7 DMA Blue Line )
SP500 Index ( Bottom Panel )
20 DMA ( Red Line )