Crypto Market Barometer released on advance-decline.net

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  Crypto Market Barometer released Today I published my simple but easy-to-read Crypto Market Barometer on our website https://www.advance-decline.net. Click here to get to the new Crypto Market Barometer. This is how the main chart looks like: What's behind the new Crypto Market Barometer We believe that one simple but effective method of gauging the health of a market is to look at how many of the most important individual assets trade above their important SMAs. Since SMAs are a proven way of determining the current trend, a market must be in an uptrend, if more than 50% of its biggest assets trade above their long-term SMAs. If they trade below their long-term SMAs, they must be in a downtrend. For the crypto market, I decided to check the popular BitPanda Crypto Index BCI10. It contains the 10 biggest crypto currencies by market capitalization, and frankly, by only looking at BitCoin, Ethereum, Polkadot and maybe Binance, we already have most of the market covered (again, in
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Dow Jones latest market breadth

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Latest Dow Jones Market Breadth Data

 

Dow Jones market breadth chart by https://www.advance-decline.net


I've added some new tools that allow me to view more historical market breadth data for Dow Jones. I can now look back from April 2020 until today and this helps me to understand how the Dow Jones is doing today.

Similar to the graphics I use with the state of DAX, I will generate this market breadth dashboard only when writing blog posts. I've not automated everything yet, so there can't be automated uploads to the website.

The McClellan Oscillator for Dow Jones is below the zero line, but advancing. This doesn't look that bad.

The McClellan Summation Index for Dow Jones declined, and compared to its high from May 2021, it's a huge decline (from ~ 48 to ~ 4,6). This is bearish.

Some words on the technical situation: At the moment the Envelopes are not touched, so the index is not oversold. The index is trading below the SMA 20, though, and the RSI is still below 50. The SMA200 seems to act as a support for now.


New: Percentage of Dow Jones members above their SMAs

 

Dow Jones market breadth chart by https://www.advance-decline.net

 

I am happy to announce that from now on, I will be able to supply you with the following data:

  • What is the percentage of Dow Jones members/components trading above their SMA50?
  • What is the percentage of Dow Jones members/components trading above their SMA100?
  • What is the percentage of Dow Jones members/components trading above their SMA200?

I believe that this data helps to determine the health state of the Dow Jones.

At the moment, 33% of the Dow Jones members trade above their SMA50, 40% trade above their SMA100 and 60% of the Dow Jones members trade above their SMA 200.

As shown in the chart above, those numbers have been declining since mid April 2021. Today's numbers are almost comparable to what we've seen during the huge dip in Nov 2020.

According to this data, the Dow Jones is weak, but at least it looks like a bottom was found for SMA data (for now). This lets me hope that the Dow Jones will recover soon.

 

 

 

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