Another week with great results
Forget about the reasons for the market increase, let's just look at the facts.
Value Line Index -- Contains 1700 stocks so it's much broader than the S&P 500 or the much narrower Dow 30
- Index was up by 2.49% this week -- That make 3 weeks in a row and better yet 3 months in a row
- The Index closed on Friday above its 20, 50 and 100 day moving averages
- Index is up 5.60% in the last 30 days
Barchart's 13 technical indicators all signal a buy for a 100% technical buy rating
Barchart Market Momentum -- contains 6000 stocks -- Percentage of stock closing above their own daily moving averages for various time frames -- Good numbers for all 3 time frames
- 20 DMA -- 71.77% closed above -- 64.69% did last week
- 50 DMA -- 84..82% closed above -- 82.52% did last week
- 100 DMA -- 84.04% closed above -- 81.58% did last week
Ratio of stock hitting new highs to new lows for various time frames -- 1.0+ bullish, 1.0 neutral, below .99 bearish -- Bullish for all 3 time frames
- 20 day new high/new low ratio -- 1520/336 = 4.52
- 65 day new high/new low ratio -- 1082/97 = 11.15
- 100 day new high/new low ratio -- 996/76 = 13.10
Investing Strategy -- All 3 yard sticks gave me very positive vibes. If one of my stocks fails to maintain a price above its 50 DMA I'll cull and replace it. This market seems to have solid legs at the present time.
Wall Street Survivor results -- The columnists for Top Stocks have a little friendly competition over on Wall Street Survivor. This month the S&P 500 has returned 1.87% so far. I'm in first place for the month at 5.15% just slightly ahead of the Motley Fool All Stars with a 2.42% return. John Reese also beat the bench mark with a 2.36% return.
Disclosure: I do not own positions in the stock contained in my blogs.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
The expected $3.36 billion offering from Citizens Financial Group won't come close to Alibaba's, but it will be an important one for the market.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.