Ratio of Advancing vs. Declining Issues on NYSE Increasingly Washed Out, But Must Equity Prices Rise Sustainably as a Result?
Top panel below you’ll see a 10 day MA of the ratio b/t NYSE advancing vs. declining issues; bottom panel is a plot of the SPX. As of the Wednesday close this ratio printed 0.55. Dating back to the ~1987…...
Market Internals Don’t Appear to Portend Material Price Deterioration
Below you’ll find a chart of the NYSE adv/dec ratio on a 10 day MA basis with the SPX below it. Since the mid 2000s note that larger corrections (i.e., >8%) have been almost universally preceded by deteriorating, downward-sloping trend…...