Did anyone notice today the new chart at the bottom of the page at our member’s only website:

http://pv.TTTHedge.com ?

 

This chart shows Today’s close in comparison to last Friday’s close.  Today the Dow 30 closed at 9310.60, down 233 points from Friday which is a -2.45% change.  The efficiency number is a measurement of how efficiently it moved from Friday’s close to the current close.  You can see that we have moved without too much trouble.  It does not peek into intraday candles to find the movements like we have today however. 

You can use this chart to measure strength between the indices.  The DOW has been the strength so far this week with the broader and small caps centric R2000 showing the weakness.

Our Zwieg / Ned Davis 4% system that is currently in the market will go to cash on Friday it the Value Line index moves and stays below 4% on Friday.  We are at 3.94% now and will most like break the 4% sometime during the week.  Will it recover before Friday?  Look at the bottom of the page at http://pv.TTTHedge.com to track.

Happy Trading

-rlt

Zweig Panel:  All indicators are pointing down.. We could rally from here or continue to oversold which would setup for the next rally.  We are finally moving down and yesterday was a big step.

NYSE NHs:

Our 52 week new highs continue to weaken and move down.  The NYSE is stronger than the Rut and Nasdaq which we also track, but weakness is weakness.  To turn momentum around we need to beat yesterday’s new highs of 60, if you are in the room watch for the posts, if you are an email member who is following me: http://twitter.com/redliontrader then you will get updates.  The decode for the posting is this:

Decode for the NYSE NHs Posts:

Sample:
10:30am NYSE NHS: 32 D1:-15% D5:-30%

Means this would be a weak posting.. it means that as of 10:30 am there are 32 new 52 week highs on the NYSE of which is 15% below bar-1 (D1- yesterday) as of the same time and 30% below the 5 day average of new highs as of the same time.  Two things to watch is if both numbers are negative or positive than the current trend is still in place.  If mixed it means a possible turning developing.  You should also watch post to post to see if the day is strengthening or weakening.

I published yesterday’s price action at the close of the day on the website http://pv.TTTHedge.com, if you want to review that.

 

Don’t forget to renew for 2010!

Happy Trading
-RLT