Courtesy of Read the Ticker.
The number of stocks above or below the SMA 200 moving average is a great tool to confirm distribution.
Google, FaceBook and NetFlix scream higher while more boring and not well know companies sink below the SMA 200. Mr Market is doing a three card monty trick to hide the expected market direction. Can you pick which cup the bean is under?
The indicator below also confirms poor NYSE advance and decline data.
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NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net
Investing Quote…
…”I was brutal in self-analysis. He told his sons his conclusions: “Successful trading is always an emotional battle for the speculator, not an intelligent battle.”…He knew that his biggest enemy was his own emotions.”…
Jesse Livermore
..“If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he is wrong.”..
Bernard Baruch
In the short run, the market is a voting machine, but in the long run it is a weighing machine.
Benjamin Graham
…“To me, the ‘tape’ is the final arbiter of any investment decision. I have a cardinal rule: Never fight the tape!”…
Martin Zweig
..”Until an hour before the Devil fell, God thought him beautiful in Heaven”..
Arthur Miller, “The Crucible”
[Contrarian Investing]
