A short but sweet week on Wall Street
Christmas week was good, and the year's last few days are also looking up.
Value Line Index -- 1,700 stocks: All indicators are positive.
- All 13 BarChart technical indicators have a buy rating for a 100% buy rating overall
- The index closed Friday above its 20, 50 & 100 daily moving averages
- The Index has had a price appreciation in 12 of the past 20 trading sessions and is 5 for 5 recently
- The Index has had a 7.89% price appreciation in the last 65 sessions
BarChart Market Momentum Indicator -- percentage of stocks closing above their Daily Moving Averages for various time frames -- approximately 6000 stocks. Positive for all three time frames.
- 76.79% closed above their 20 DMA
- 74.06% closed above their 50 DMA
- 74.79% closed above their 100 DMA
Ratio of stocks hitting new highs to new lows for various time frames -- 1.0+ bullish, 1.0 neutral, less than .99 bearish -- very bullish
- Ratio of stocks hitting new highs to new lows for the last 20 days -- 1614/203 = 7.95
- Ratio of stocks hitting new highs to new lows for the last 65 days -- 913/124 = 7.36
- Ratio of stocks hitting new highs to new lows for the last 100 days -- 823/93 = 8.85
Summary and investing strategy -- The market performed well last week and seems to have support across the board. I'll stay fully invested but still trim any stock not maintaining a price above its 50-day moving average. January is usually a strong month, so I feel that I can safely replace any stock I cull. Have a great week and a prosperous New Year.
MORE ON MSN MONEY
Copyright © 2013 Microsoft. All rights reserved.
The retailer labels the character's fake memoir as nonfiction. This comes weeks after it categorized the the Bible as fiction.
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.