* Not back tested but based on a few years of observation, I wait to see market new highs/new lows to be at least 50% new highs. Supposed to be an indication of 'smart money' coming back into the market. (?)
This is just my recording each day of the FINVIZ new high per cent.
For the last eleven days it’s been below 50%. The second longest streak below 50% was 8 days in a row in April ‘24. Otherwise not one week didn’t have at least one day over 50% since at least January ‘24.
My guess, and it certainly may be wrong, is that the ‘smart money’ hasn’t committed yet.
Watch for a breadth thrust on a rally attempt. I'll be looking at the NYSE A/D ratio and A/D volume ratio. Something over 10/1 would be ideal (and signal smart money buying).
Thanks.
* Not back tested but based on a few years of observation, I wait to see market new highs/new lows to be at least 50% new highs. Supposed to be an indication of 'smart money' coming back into the market. (?)
Is there an indicator or study you could point me to? Is that similar to net new highs…that it should crossover into positive territory?
This is just my recording each day of the FINVIZ new high per cent.
For the last eleven days it’s been below 50%. The second longest streak below 50% was 8 days in a row in April ‘24. Otherwise not one week didn’t have at least one day over 50% since at least January ‘24.
My guess, and it certainly may be wrong, is that the ‘smart money’ hasn’t committed yet.
Watch for a breadth thrust on a rally attempt. I'll be looking at the NYSE A/D ratio and A/D volume ratio. Something over 10/1 would be ideal (and signal smart money buying).