Weekly Market Update: Some minor improvement but market remains mixed

This was a short week on the stock market with the Christmas holiday. The indicators are showing some small improvements, however, it is just a nudge and is not necessarily a positive sign. The market needs to play its hand for a couple of more weeks before we will get any real sense of direction.

Major Indexes Above their 30 Week Moving Averages

• Dow Up
• S&P Up
• NasDaq

Dow and the NYSE A-D line both positive for the week

NYSE close touched just below the 200 day moving average.

NYSE 52 week Highs are still lower than the 52 week Lows. This shows continued weakness in the market.

NYSE 52 Week High Low vs. Dow are converging in the upward direction.

Global Dow (GDOW) remains well below its 30 week moving average.

Dow price to dividend ratio remains extremely overvalued.