25 Aug 2014

Price still looking for a ceiling.  When looking at the index there doesn't seem to be much indication that prices or momentum looks weak.  But when we look at individual stocks, we can see that there are weak groups, and the %age of stocks above their 200ma seems to show this same sentiments.  We could call this a negative divergence, but we should also consider that negative divergences or any divergence can carry for a long time.

MT: UP
ST: UP
PA: NA