A Crucial Level to Watch
This is the week the market is set to head toward an intermediate-term overbought reading -- the first such reading since mid-November.
The first thing to realize is that, while the 30-day moving average of the advance-decline line hasn't yet made a higher high, it still has a chance to do so. The blue line on the chart below is the indicator. You can see it is currently lower than it was a week ago, so that's the first high to watch. A failure to exceed that level this week would be negative....390 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.