What Yesterday's Fear Didn't Have

By: Marty Chenard | Wed, Mar 7, 2012
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When fear nudges its way into the market, panic selling often appears.

But what if there is a rash of selling, and the level of daily New Lows on the New York Stock Exchange barely budges?

That is pretty much what happened yesterday when the New Lows went from 21 on Monday to only 30 on Tuesday.

Many investors would have guessed that the New Lows were above 50 yesterday, but they weren't.

In fact, they were only at a level of 30 at the close. Being only 2 points above our 28 level essentially comes in at a Neutral level.

It is 12:30 PM as I write this ... so what about today? Well, at 12:30 PM, the New Lows were at a healthy 11. So, the sky wasn't falling either yesterday or today.

S&P 500 SPY Chart - New Lows actual daily values

 


 

Marty Chenard

Author: Marty Chenard

Marty Chenard
StockTiming.com
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Tel: 828-296-1200

Marty Chenard is an Advanced Stock Market Technical Analyst that has developed his own proprietary analytical tools and stock market models. As a result, he was out of the market two weeks before the 1987 Crash in the most recent Bear Market he faxed his Members in March 2000 telling them all to SELL. He is an advanced technical analyst and not an investment advisor, nor a securities broker.

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