Monday, June 2, 2008

06/02/08

Date: 06/02/08
Open: $54.58
High: $55.89
Low: $53.56
Close: $54.86
Volume: 2,413,015
Advances: 52
Advances >=4%: 8
Declines >=4%: 5
Daily Change: 0.303%
Dow: -1.06%
Nasdaq: -1.23%
S&P: -1.05%

2 comments:

Bill Luby said...

As someone who doesn't follow the IBD closely, I'd be interested in hearing your take on the implications of today's IBD divergence.

BTW, I have enjoyed your blog so much that I added you to my blogroll last week.

Cheers,

-Bill

bhh said...

Hi Bill,
Thank you. Your blog has been part of my morning routine for some time and thus the kind words mean a lot.

The IBD is heavily weighted in energy right now and I think the divergence is easily atributed to that. I am not sure exactly how they calculate and weigh everything but there is a relative strength component layered over strong earnings and industry group strength so it does a fair job at adapting to market trends as it is rebalanced weekly.