Index bursting through 14,000 yesterday. However,
although the absolute level of the index may be at new
all-time highs, the shallow depth of the broad market
sentiment gives investors plenty of reason to remain
sceptical of the future of this rally. Currently, the
Stock Trends Bull/Bear Ratio for the New York Stock
Exchange is 0.6, signalling that a vast majority of
stocks are trending in Stock Trends Bearish territory.
Over 50% of trending NYSE stocks are strong Bearish.
The aggregate distribution of the Stock Trends
indicators warns us of the fragile footing the current
rally rests on.
NYSE Stock Trends indicator Distribution: