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Strategies & Market Trends : SPY & QQQ intraday chart observations by rimshot

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To: rimshot who wrote (1101)7/2/2023 2:58:08 PM
From: rimshot1 Recommendation

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$OEX vs. $SPX daily closes ratio barely moved for the
recent 5 days, on a closing basis ... and at a much lower
level for this ratio than in the prior week

so, either there is more relative participation in the price advance
by the other 400 stocks in the $SPX
only a few Mega Caps are offsetting relative under performance in the
100 stocks within the $OEX

my view, after looking at the top weighted 25 stocks in the $OEX is
that the 400 $SPX stocks relatively outperformed on a percentage basis
the 100 stocks in the $OEX as a group

this 11-sector summary available at SC provides additional evidence
for my claim that last week we saw broadening relative
participation by the 500 $SPX stocks in the most recent price advance ..
you be the judge what occurs in the future near-term

* Consumer Staples ranked last for the current week

$OEX vs. $SPX daily close ratio plot for 2 years & 3 months -

$OEX vs. $SPX daily close ratio plot in a line format -

$OEX vs. $SPX cumulative percentage change in the daily Relative Strength ratio
since April 1, 2021 close -
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