The Bulls and the Bears

Well the bulls got punched in the gut today. A big sell-off in the US led by the small caps (IWM). China and Canada also gapping lower and traded lower all day (FXI and EWC). China is now in a downtrend as illustrated by the Guppy multiple moving average plot below. New lows outnumber new highs and the high/low ratios are well below one for the 20-day and 50-day time periods (see table below). On the bullish side, the US markets remain in an uptrend, new highs still outnumber new lows on the longer time-frames, and last week saw 220 stocks make all-time highs.

New Highs and Lows

04-May-2010
New Highs	New Lows	Hi/Lo Ratio	Period
335	1651	0.2	20 day1
250	447	0.6	50 day1
163	68	2.4	52 week1
134	19	7.1	All-Time2
1 Out of 6628 US Stocks on FINVIZ  2 From uglychart.com

China in a Downtrend:

On the Bullish-side, Small-Caps remain in a primary uptrend:

Related Posts:

• Canadian All-Time Highs Last Week
• Do All Time High Stocks Outperform? Research suggests they do.