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S&P 500 VS S&P 500 Stocks at 52-Wk Highs Minus Lows (S&P 500 NH-NL)
-The rise of the index in the 6 central months of 2018 was not supported by the values of the indicator in question, which remained consistently at lower levels than those recorded during the positive trend of the SP in the two previous years.
-The downturn of recent weeks has therefore determined values quite a bit lower than during the decline at the beginning of the year, even compared to SP index that still remains within the lower part of the range created this year (I made this observation before Powell's speech)
-The same current trend of the indicator in question occurred at the beginning of 2016, recording similar minimum. Unlike then, however, I made a comparison with the macroeconomic issues. Three years ago there was an important slowdown in China which seems to have been countered by a still effective expansive monetary policy by chinese government, within an expanding monetary and fiscal panorama (Trump/Draghi). Today we have, among others, the end of QE in Europe and its consequences in the first place on Italian banks, Brexit and most important of all the US-China economic clash.
Could it be a sign of long lasting downtrend? Or it's something of little importance?
Maybe it could seem a pretty naive argument but I'm a beginner trying to figure it out.
Thank you very much
Can you help answer these questions from other members on NexusFi?
Trading: The one I'm creating in the present....Index Futures mini/micro, ZF
Posts: 2,311 since Nov 2011
Thanks Given: 7,341
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I've watched 52 week NH NL for a years. I think it's a great tool.
I spend most of my time, currently, refining my edges, testing my order placement a variety of ways and edge creation. In all honesty up, down or sideways I don't care all the much....I just need movement.
I left market prediction to others a while ago. Of course, I have my ideas about the market. But I trade what is happening right now. I can't make money any other way.
I fine simple done as error free as possible, consistently, the key to making money. Not analysis.
It is VERY easy for analysis to have no end. I am proof. There is always something else to learn.
Ron
...My calamity is My providence, outwardly it is fire and vengeance, but inwardly it is light and mercy...
The steed of this Valley is pain; and if there be no pain this journey will never end.
Buy Low And Sell High (read left to right or right to left....lol)
