The Novice Bear

One of the things I like most about Blocks is its quick and easy ability to create breadth indicators.  Here is one that looks to have some very interesting properties.  In the last issue of Stocks & Commodities Magazine there was an article about reliable moving average crosses.  The article investigated the cross of a couple of modified triple exponential moving averages.  (You can find for the charts on the shared Blocks feature by searching for TEMA)  The indicator shown above gives the percentage of S&P 500 stocks that have the moving averages in a bullish mode (median zl tema above the ha zl tema) or in a bearish mode (median zl tema below the ha zl tema).  It looks like buy or selling the extremes would be a pretty good bet.