[isatrader]

Attached is the updated Effective Volume charts from http://www.effectivevolume.com of the SPY, QQQ and IWM ETFs. The S&P 500 and the Russell 2000 have recovered back above their 20 day MAs, but the Nasdaq 100 has sold back below it's 20 day MA and is on a sell signal. The other thing to note is the divergences with the price action, which is pushing to new highs whereas the effective volume is still below the February highs. So price is moving higher on flatish to falling volumes.

[isatrader]

Attached is the NYSE long, medium and short term moving average breadth charts and the NYSE Bullish Percent Index.

There wasn't any major changes this week with only small moves in each chart, and the medium term NYSE Percentage of Stocks above their 150 day moving average remains on Bear Alert status, as it failed to reverse from it's column of Os again this week. So with all the moving average breath measures in the upper high risk zone for a prolonged period now, caution is necessary imo. As as I've mentioned before, Dorsey's research suggests that the average time for the NYSE Bullish Percent to stay above it's 70% level is 96 days, and hence as it went above 70% at the start of the year, that takes us to early April on the average. So it's definitely time to start considering more defensive strategies at least, and also to start planning how you will react if the market turns lower. But for the time being these measures are still mostly positive overall, but divergences are starting to appear on the line charts with the price action.

[isatrader]

A quiet week in the sector breadth charts with the only substantial mover being Energy, which saw 6.43% more stocks in it's sector move above their 150 Day moving averages.

Industrials retook the top spot from Financials once more, but they've been trading places weekly at the top since the beginning of the year. The weakest sector remains Basic Materials which is the only sector on a sell signal currently below it's 10 week MA.

Below is the data table for the Percent of Stocks Above 150 Day Moving Average in each sector which I've ordered by relative strength, with the highest to the lowest percentage in each sector. Also attached is the visual diagram of the 9 sectors and the overall NYSE Percentage of Stocks above their 150 day Moving Averages, plus the 1% P&F chart and line chart of the nine sectors.

[isatrader]

Attached is the Free Credit less Total Margin Debt chart which is a lagging indicator as the data is a few months old, but shows an extreme reading of margin debt only seen in June 2007 and March 2011 in January this year. This means I believe that leverage is at very high levels.

[isatrader]

Attached is the updated major equity index charts and the relative performance table for the major charts. It was a quiet week with the Crude Oil the only notable move in the relative performance table, moving up two places after continuing it's rebound from support.

Relative Performance Table - week ending 15th March 2013



US Stock Indexes

               

European Stock Indexes

       

[isatrader]

Attached is the updated major commodities and precious metals charts, Gold (GC), Silver (SI), Palladium (PA), Copper (HG) and West Texas Intermediate Crude (CL).

[isatrader]

Attached is the Dollar Index (DX) and the Volatility Index (VIX).

[isatrader]

And finally the US 10 & 30 Year Treasuries charts