Thanks to Vladimir D from Brazil for his latest weekend update of the NH-NL for his country. I posted his weekly and daily charts and added another daily with my own comments - AE
The weekly NH-NL rose above zero. When weekly NH-NL falls below zero in a bull market, it identifies an oversold condition and gives a buy signal. When it rises above zero in a bear market, it gives the opposite message.
The plot of the daily NH-NL is starting to act a little ragged near the right edge - bullisg leadership is stumbling.
The daily chart of Bovespa (made using TC software) shows a bearish divergence of MACD-H as well as a short-term bearish divergence of Force Index. These suggest that the last week's rally may turn out to be a false upside breakout. Breaking below last Monday's low would be a pretty nasty bearish signal.
The weekly NH-NL rose above zero. When weekly NH-NL falls below zero in a bull market, it identifies an oversold condition and gives a buy signal. When it rises above zero in a bear market, it gives the opposite message.
The plot of the daily NH-NL is starting to act a little ragged near the right edge - bullisg leadership is stumbling.
The daily chart of Bovespa (made using TC software) shows a bearish divergence of MACD-H as well as a short-term bearish divergence of Force Index. These suggest that the last week's rally may turn out to be a false upside breakout. Breaking below last Monday's low would be a pretty nasty bearish signal.
Vladimir and Alex
ReplyDeleteMuch thanks for taking the time to make this available. I think this pretty much reflects the action in the emerging markets, which I follow closely. I appreciate this valuable tool to sharpen my perspective.
Grant
First of all I would like to say thanks to Mr. Alex Elder for sharing his knowledge with us . I read all your books and they taught me that the dream of freedom is possible one day as a well succeeded trader.You are the best !!
ReplyDeletekerry, thanks to you too for being so attentive to the clients of this site as me .
Vladimir , what a gift you have given to all of us brazilian traders !!!! A Bovespa NH-NL Index!!!!!!! :-))
my best ,
Tulio .