10/12/2025
Here is how the meltdown unfolded. The NYSE A/D line is the single most reliable indicator.It peaked back in mid September. Unlike NASD or SPX, NYSE is not a weighted index. It made a lower high as the NYSE peaked Oct 3-7. Then it all fell apart Friday.
The % of SPX stocks over their 50 day moving average MA had been falling for the last three months, another clue. And of Friday it collapsed. From 82% in July to 38% Friday a multi month crash.
Bullish percent of NYSE stocks on a point and figure chart collapsed. The NDX looks far better because of the weighting of 7-1 stocks.
These indictors are a different unbiased way to look at market behavior.
Let me know if you find this week's posts of interest.
Dennis.elam@att.net
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