Tuesday, January 24, 2006

More bulls to come...

The number of Weak Bearish stocks on the TSX measures 20% of the total trending stocks. This is a high level, and is generally an indicator that there will be an expansion in the number of bullish stocks over the next period. Indeed the number of Weak Bullish stocks (an indicator of fading bullish sentiment) is down to 2%. Currently 50% of TSX stocks are Strong Bullish. We can expect this number to rise in the coming weeks.
The NYSE is also showing strong bullish sentiment. Strong Bullish stocks account for 45% of the total, while Weak Bearish stocks number a relatively high 12%. This also bodes well for the coming period. For a look at the current distribution of the Stock Trends indicators on the NYSE, check the Bulls and Bears graph at the following link:
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