Market Meter

[JTH]

So long as the S&P 500 remains within the price channel, these numbers shouldn't change much.
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The Russell 2000's Meter drops 7%
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[JTH]

Some slight statistical changes. Annoyingly, Google decided to split their stock, so the S&P 500 is technically the S&P 501

Google’s long-awaited two-for-one stock split, announced nearly two years ago, has finally arrived, a development that will help cement founders Larry Page‘s and Sergey Brin’s control over the Internet search giant.

For the S&P 500, despite the 1-day decline, the market Meter remains largely unchanged.

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Another statistical change for the Russell 2000, instead of 1812 stocks, it's now 1807. I'm not sure how or why these changes happen, I'm just posting the data based on what comes up within the scans.

For the Russell 2000, while there were some slight changes, the Bullish & Bearish totals remain the same.

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[JTH]

As we know, the indexes declined substantially this week, and this pullback is reflected in the Market Meter. So what does this data really tell us? The truth is I don't know, without a way to back-test this data, I have no method to validate what an overbought/oversold condition looks like. What I do know is that within this moment, sellers are in control of prices. They control the short-term (last 20 days) while buyers sill maintain control of the mid-term (last 50 days.)


Of note, 81.2% of the S&P 500's stocks closed under their 20SMAs and 31.3% under their lower 20,2 Bollinger Bands.

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For the Russell 2000, we have a more substantial pullback, with 87.3% of stocks closing under their 20SMAs and 47.7% under their lower 20,2 Bollinger Bands.

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[JTH]

Compared with last week, both the S&P 500 & Russell 2000 picked up strength, with the S&P 500 showing a significant increase with the Russell 2000 showing a modest increase.

From the 2 charts below we have a side-by-side performance comparison of the S&P 100 Large Caps, the S&P 400 Mid Caps and the Russell 2000's Small Caps. Over the past month, the Large Caps have declined the least, showing a .69% gain, while the Russell 2000 suffers with a -4.83% loss. Off this recent 4-day rally, the large caps have gained .20% more than the small caps. These charts are telling us the money is rotating into the safety of Large Caps, with the money appearing to take shelter from an impending storm. This is just speculation of course, I can not actually see money flow, I can only look at the charts and hypothesize the reason for the variance in performance. It is important to realize the Small Caps always move more than the Large Caps (in both directions) this is just their nature but at this time I find the differences to be quite stark.

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