Friday, May 21, 2010


More info to substantiate that we should look for a move higher.  The number of stocks trading above their 40 day moving average has dropped significantly and since this is a contrarian indicator we should take notice and look for a rebound.

As usual I've documented the source of this chart and am posting with permission.  I don't use the premium version of the site personally, but if someone does, shoot me a comment and let me know how it works.  In particular we are looking at the chart at the bottom in green that is showing a move that would indicate this is overdone.


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