Weekend Review 11/30/2012

I was reminded today that now all is what it seems, especially with indicators.  For the past few weeks I've been comparing the following two charts and have noted divergences between the $BPSPX and $BPCOMPQ with the later showing the most weakness.  The same can be noted in RHSPX and RHCOMPQ respectively.  The following charts clearly show this.

SPX

COMPQ

However, when taking these same two indicators and viewing them in relation to a PnF chart from which they are derived a much different perspective emerges.  As determined not by a line declining along a chart but by the price action of the underlining components another story was being unfolding.  This was a helpful reminder to be more conscious when taking indicators and abstracting them in a different form and trying to draw the same conclusions.

$BPSPX Point and Figure

$BPCOMPQ Point and Figure

This oversight aside, my bias is still to the upside and this is the direction I am leaning in my analysis coming into the week.

Of note on Friday was a clustering of year high volume in Industry Group: Health Services in the Worden database.  Of these, the most notable is GNMK which did so with an all time high as well.

ATEC

CSU

RMD

USPH

Going through the All-Time-High and New-High database that I've been collecting since October 26th, there are a few stocks that I'll be keeping an eye on this week, with quite a few being new issues that have held up well since their debut.

AMBA

CFNL

ODFL

RH

SSTK

TYL

WAGE