Bullish Momentum Signals – 04-14-22

The 04/12/22 blog “S&P 500 Decline is Losing Momentum” illustrated that the S&P 500 (SPX) 30 – minute MACD and RSI indicators were showing bullish divergences.  On 04/14/22 internal momentum indicators were also showing bullish divergences.

The daily NYSE – Advance – Decline Issues ($NYAD) courtesy of StockCharts.com illustrates the NYSE Advance/Decline line.

On 04/11/22 the SPX closed the session at 4412.54. On 04/14/22 the SPX closed the session at 4392.60, a lower price level yet the $NYAD ended the session above its 04/11/22 level.

Also note the $NYAD bottom was on 03/14/22, the same day as  the presume SPX – Elliott wave – Horizonal Triangle termination point.    

The daily NYSE – 52 – week Hi-Lo chart ($MADN) courtesy of Barchart.com illustrates  NYSE stocks at 52 -week highs minus 52 – week lows.

Again, the reading on 04/14/22 shows  a bullish divergence vs. 04/11/22.

The bullish signals  from $NYAD and $MADN are additional evidence that US stocks could be forming a short-term bottom. 

The next blog will examine a  potential signal from the Time dimension.

Published by Mark Rivest

Independent investment advisor, trader, and writer. Articles have appeared on Technical Analysis of Stocks and Commodities , Traders.com Advantage, Futuresmag.com, and Finance Magnates.

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