Intuitive Surgical Hits $393!
The Hoffman Brothers called ISRG at $152 and it ran to $393 for a 158% gain! See what the Hoffman Bros recommend you buy NEXT.
Corey Rosenbloom, CMT, submits: “The main idea of this chart is that I’m showing symbol $NYAD which is the NYSE Advance-Decline Line (”Breadth”) but I have turned that off (invisible) because it is so choppy.
The blue and red indicator you are seeing on the main chart is the 20 period Exponential Moving Average of Breadth (or of the $NYAD hidden chart) which serves as a “smoothing” mechanism. It’s shown on an “Area Chart” which is visually appealing. It’s really just a moving average of Breadth.
Underneath the Area Chart, I’m showing the S&P 500, with particular information given to the three most recent swing highs in price up to the 1,100 level.
As you may already know – or can see in the chart above – these price highs are being met on deteriorating breadth (internal) conditions which generally serves as a non-confirmation of price.
This is just another way to look at that – in seeing the ’smoothed’ average of Breadth forming lower indicator highs each time the S&P 500 has crept its way to a fresh new 2009 high.” (Source: Afraid to Trade)
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