The number of stocks above or below the SMA 200 moving average is a great tool to confirm distribution.
Google, FaceBook and NetFlix scream higher while more boring and not well know companies sink below the SMA 200. Mr Market is doing a three card monty trick to hide the expected market direction. Can you pick which cup the bean is under?
The indicator below also confirms poor NYSE advance and decline data.
NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net
Investing Quote...
"The market is like a slowly revolving wheel: Whether the wheel will continue to revolve in the same direction, stand still or reverse depends upon the forces which come in contact with it hub and tread." ~ Richard D Wyckoff
"The financial markets generally are unpredictable. So that one has to have different scenarios... The idea that you can actually predict what's going to happen contradicts my way of looking at the market." ~ George Soros
"Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected." ~ George Soros
"It's not what you own that will send you bust but what you owe." ~ Anon
"If it's obvious, it's obviously wrong." ~ Joe Granville
