• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock NASDAQ New High/New Low Ratio and Risk
Stock

NASDAQ New High/New Low Ratio and Risk

by March 1, 2023
by March 1, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Stuck is a word we have used a lot lately.

Some common synonyms for stuck are jammed, trapped, put, pushed, and caught.

Nasdaq is stuck, jammed, or whichever word one wishes to use. And that’s price. Traders are also trapped and caught, considering that the market breadth is stuck in the middle between healthy and ill.

Our Big View product updates the market internals each day. This particular indicator shows the number of stocks reaching a new 52-week high relative to the number of stocks falling to a new 52-week low. A degree of finesse is required to read the current high/low ratio.

On a short-term basis, we were starting to get to oversold levels in NASDAQ. The 10-Day moving average (red line on the middle chart) flipped positive, meaning this February decline may be starting to turn up. Meanwhile, the 21-DMA (black line) is above 50%. When the value of the 21-DMA is above 70%, it is considered bullish, with over 85% being very bullish. When it is under 30%, it is considered bearish, very bearish under 20%. While NASDAQ got oversold on a shorter-term timeframe, the longer-term bias remains intact, as long as the 21-DMA is at or above 50%.

We are watching for a potential powerful bounce in NASDAQ, hence, bringing price back towards the higher end of the trading range and the 21-DMA closer to 70%.

Please also look at the bottom chart or the actual up/down ratio. On Monday, the 27th, there were an even number of red and green bars. In the weeks prior, the stocks going up outpaced the number of stocks going down. Now, once this market breadth chart updates, should the green bars rise above the red ones, then that is yet another positive sign for growth stocks and NASDAQ. And of course, the opposite is true-more red than green means market could remain stuck.

To see more of our Big View indicators and the breakdown of risk on/neutral/off, please check out our Sunday Market Outlook.

Finally, we featured Century Aluminum CENX in yesterday’s Daily, and it is up nearly 7% today.

MarketGauge’s mission is to bring you education and actionable investing ideas every day!

For more detailed trading information about our blended models, tools and trader education courses, contact Rob Quinn, our Chief Strategy Consultant, to learn more.

IT’S NOT TOO LATE! Click here if you’d like a complimentary copy of Mish’s 2023 Market Outlook E-Book in your inbox.

“I grew my money tree and so can you!” – Mish Schneider

Get your copy of Plant Your Money Tree: A Guide to Growing Your Wealth and a special bonus here.

Follow Mish on Twitter @marketminute for stock picks and more. Follow Mish on Instagram (mishschneider) for daily morning videos. To see updated media clips, click here.

Mish in the Media

Mish joins Business First AM for Stock Picking Time in this video!

See Mish sit down with Amber Kanwar of BNN Bloomberg to discuss the current market conditions and some picks.

Click here to watch Mish and StockCharts.com’s David Keller join Jared Blikre as they discuss trading, advice to new investors, crypto, and AI on Yahoo Finance.

In her latest video for CMC Markets, MarketGauge’s Mish Schneider shares insights on the gold, the S&P 500 and natural gas and what traders can expect as the markets remain mixed.

Mish and Charles talk food inflation and the Metaverse on Making Money with Charles Payne!

See Mish present “Best Trade, Worst Trade, Next Trade” on Business First AM.

Mish shares insights on the US Dollar, euro, gold and natural gas in this appearance on CMC Markets.

Mish shares three charts she is using to measure inflation using the commodities markets on the Wednesday, February 14 edition of StockCharts TV’s The Final Bar with David Keller!

Mish gives you some ideas of what might outperform in this new wave of inflation on the Friday, February 10 edition of StockCharts TV’s Your Daily Five. She has picks from energy, construction, gold, defense, and raw materials.

Read about Mish’s interview with Neils Christensen in this article from Kitco!

ETF Summary

S&P 500 (SPY): 390 support with 405 closest resistance.Russell 2000 (IWM): MA support around 184. 190 has to clear.Dow (DIA): 326 support, 335 resistance.Nasdaq (QQQ): 300 the pivotal area, 290 major support; 284 big support, 300 resistance.Regional banks (KRE): 65.00 resistance, 61 support.Semiconductors (SMH): 228 support, 240 pivotal 248 key resistance; 248 resistance, 237 then 229 support.Transportation (IYT): 235 resistance as best Mod Fam performer, 228 support.Biotechnology (IBB): 125-130 new range.Retail (XRT): 66-68 huge area to hold if the market still has legs.

Mish Schneider

MarketGauge.com

Director of Trading Research and Education

You Might Also Like
  • Week Ahead: NIFTY to Face Monthly Derivatives Expiry Resisting Key Levels; Moving Past This Zone Crucial
  • Why Investors Are Flocking to XPEV Stock: Decoding High SCTR Scores
  • Finding Leaders and Bullish Signals on the Price Chart
  • Using the ATR Trailing Stop to Manage the Trade and Define the Trend
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Chaos breaks out after anti-war protestors booted from House China Committee hearing
next post
A Breakout May Be In The Offing In This Engineering Stock

You may also like

Nvidia Stock: Why It’s Screaming a Spectacular Buy Signal

September 27, 2023

This Powerful Use of RRG Will Make Your Head Spin

August 22, 2023

Sector Rotation Warning: More Downside Ahead for US Markets?

March 7, 2025

Stop Trading In The WRONG DIRECTION With This Simple Rule

March 16, 2024

3 Breakouts Ready for Massive Climbs!

November 16, 2024

Plunge in Treasury Yields Triggers Gap-Surge in Home Builders

November 27, 2024

Getting Perspective and Dealing with Volatility

April 20, 2024

A Breakout May Be In The Offing In This Engineering...

March 1, 2023

Will Shutterstock Buck the Bear Trend?

February 8, 2023

What Would It Take For Small Caps To Lead?

January 16, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025
    • NBA star Russell Westbrook launches AI-enabled funeral planning startup

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,630 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,302 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,185 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,065)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,065)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Stock Indexes Continue Winning Streak: Growth...

    November 9, 2023

    How to Increase Your Win Rate

    June 23, 2023

    Is the Transportation Sector Starting to...

    April 17, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here