Market analysis 17/12-21/12

ChartMan

Legendary member
5,580 46
Mixed bag today, even after FTSE's gains...keep your eyes on the bottom charts.Friday's turnround proved to be good for today...
 

Attachments

  • breadth.gif
    breadth.gif
    23.2 KB · Views: 345

neil

Legendary member
5,167 748
chart interpretation

Chartman
I've never seen a chart like this. How do I read it?

Neil
 

ChartMan

Legendary member
5,580 46
This is a custom chart I have designed in EXCEL. It takes all the stocks in my UK database and calculates how many went up or down by more than 5% today, and how many closed within 1% of their high or low of the day. Then I plot these numbers as red and yellow lines to get an easy visualisation.
 

ChartMan

Legendary member
5,580 46
Moving on up and the main strength indicator- those stocks closing at or near their HOD (within 1%) has crossed the zero line,and the 5% line will probably go tomorrow.
 

Attachments

  • breadth.gif
    breadth.gif
    22.9 KB · Views: 308

ChartMan

Legendary member
5,580 46
Well, it didn't. All in all, the charts and graphs are becoming choppy....How on earth can anyone trade this?
 

Attachments

  • breadth.gif
    breadth.gif
    23 KB · Views: 288

ChartMan

Legendary member
5,580 46
Could be getting better. The FTSE has bounced nicely of it's uptrend support and should head off to 5400 level, having made a double bottom at the 5040 level.. My depth graph is showing higer lows too...I guess the next week is going to be a bit of a dis-jointed affair,although I remember seeing some excellent gains over the Xmas period last year...
 

Attachments

  • breadth.gif
    breadth.gif
    22.2 KB · Views: 275
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock