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The
values displayed above represent the percentage of components within
each ETF trading above their 200 day moving average. The percentage of component issues above
their 200 day moving average is considered a reliable indicator of
long term movement in the securities market. When above 70%
and subsequently declining below 70% it is considered to mean that
the long term direction of the market has turned bearish.
Vice-versa, when below 30% and subsequently rising above 30% a
bullish indication is given.
When
the values of this indicator are displayed for all ETFs together in
one chart (above chart), relative industry group performance becomes
apparent. Numerous
comparison charts, similar to this one, can be displayed
utilizing MasterDATA's composite data and index/ETF price files. |
