Van Meerten's picks

Friday, July 17, 2009
BarChart Weekly Market Momentun W/E July 17,2009 - CODE GREEN
Remember you should always first evaluate which way the Stock Market is Trending before you add or delete from your portfolio. No stock investment should be made in a vacuum.

Value Line Index Daily Moving Averages - This index contain approximately 1700 stocks

1.ABOVE 20 DMA
2.ABOVE 50 DMA
3.ABOVE 100 DMA
Trading ABOVE all 3 Daily Moving Averages - BULLISH

BarChart Value Line Index w/DMA, Trend and 14 Day Turtle Chart

BarChart Market Momentum

What percentage of stocks are trading ABOVE or BELOW their Daily Moving Averages - Approximately 5800 stocks

1.81% ABOVE their 20 DMA
2.73% ABOVE their 50 DMA
3.88% ABOVE their 100 DMA
A sample of 5800 stocks shows that better than 50% of the stocks are ABOVE their DMA for all 3 periods - BULLISH

BarChart Market Momentum Table

BarChart New High/Low Ratios

1.20 DAY new H/L 1570/216 = 7.3 to 1
2.65 DAY new H/L 655/83 = 7.9 to 1
3.100 DAY new H/L 630/43 = 14.7 to 1
These are good numbers - New Highs far outnumber New Lows for all 3 periods - Very BULLISH

BarChart New H/L Table

It would appear we are in CODE GREEN and you should not be afraid to add to your portfolio holdings at this time

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