Stan Weinstein’s 30 Week High-Low
A lot of interest has been generated recently on the methods of market master; Stan Weinstein and information in his book “Secrets for Profiting in Bull and Bear Markets.“ If you’re unfamiliar with the Prudent Trader – we screen our database of optionable stocks for potential buys and sells basis Stans stage analysis on a nightly basis.
However today we will look at one of Mr. Weinstein’s indicators, the 30 week highs minus lows:
You will notice a divergence going into the March ‘09 lows with the October ‘08 lows. An apparent divergence appears to be building the other way at this point.
Here’s a picture of how this nice indicator behaved going into the end of the last bull market.
Looks similar does it not? Perhaps we need a sell as occurred in July ‘07, a retest and a sharp non-confirmation in the 30 Hi-Lo indicator.
ETF Range Projections & A Quote to Start the Day
Formal education will make you a living; self-education will make you a fortune.
- Jim Rohn
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Chinese markets are a bit better while the others are on the negative side today: Nikkei 225 -0.17%, Hang Seng +0.05%, Shanghai +0.52%, DAX -0.56%, and the FTSE 100 -0.71%
At about 7:30 AM ET on this one year anniversary of the bull market low, the futures are not celebrating: Dow -34, S&P -5.5, NAZ -8.3, Oil -$1.43 and Gold -$6.50
