New Project

Here is the beginning of a project I may be working on for the next couple of weeks. This is the last 3 years of the Nasdaq. The main chart is the percentage of stocks on the Nasdaq that are above the 50dma. The first thing that leaps out at me is the fact that the percentage seems to be a leading indicator of both strength and weakness: in particular, in 2008 it dropped to an extreme low level, then in 2009 took another dip, but not nearly as low, even though the main index was hitting a new low. It also looks like the levels on the Nasdaq that I have been using (30, 50, and 70) are correct. I will be doing some more past charts (and especially, the bear market of 2000-2003) to see if this indicator really is as reliable as it looks right now.