Lowry Market Compass: February 20, 2024

In February, Buying Power increased and Selling Pressure decreased with the Net Percent Spread between them expanding to 18.57%. Lowry's APR Index remained unchanged and the Percent of NYSE Issues Above 30-WMAs is in an uptrend above 75%. The Operating Companies Only (OCO) Adv-Dec Line and NYSE all-issues Adv-Dec Line both recorded fresh highs on February 15. Despite a 90% Downside Day on February 13, the market saw several price indexes reach all-time highs. Although long-term momentum is strong, intermediate-term momentum suggests the bulls are not fully back in charge.