The major index market carpet shows the Dow Transports underperforming with its components showing more down days than up days in February. Since 31-Jan, the Trannies show -2 for net up days-down days for all components. This indicator counts the number of days each stock moves higher and then subtracts the number of days each moves lower during the specified time span. It is a breadth type indicator that measures the degree of participation.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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