SPY & QQQ intraday chart observations by rimshot Message Board

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Strategies & Market Trends : SPY & QQQ intraday chart observations by rimshot

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skier31

To: rimshot who wrote (937)	12/2/2023 3:59:47 PM
From: rimshot	3 Recommendations of 1309

S&P 500 - count of # of new 52-week intraday price highs, daily chart - stockcharts.com * 13% of S&P 500 members ( 65 new Highs ) have made a new 52-week price high on Friday December 1, 2023 ... this represents the largest count since early July 2023 * Important note - the $SPX vs. $NYA daily ratio is shown at the bottom of the above chart, and observe that when the ratio declines for multiple days or weeks the $SPX price *action eventually* always suffers price damage while the ratio declines ... this occurs because the price action by the now 2,940 active symbols comprising the NYSE are not " in sync " on a relative basis with the $SPX price action ============================================================= daily chart # 2 - 55 = the Friday December 1 count of # of SPX New Highs minus OEX New Highs** ... which is below its July peak at 66 and below the June 2023 peak at 71 daily chart counting the # of New Highs adjusted by: S&P 500 minus the S&P 100 stockcharts.com

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