It measures prices compared with those in January 2000 and creates a three-month moving average.
The Blue is the 12 month moving average of monthly payroll growth before Feb revisions.
Demand remained firm in May despite declines on a three month moving average basis.
Nucor has not logged a monthly close above its 10-month moving average since June 2008.
This is a graph of how much the revised data pushed up the 12 month moving average.
Its three-month moving average, considered a recession indicator, fell from -0.26 in July to -0.47 in August.
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The redline is the 12 month moving average of the BLS payroll series.
In general, I think a 12-month moving average is probably not a bad place to begin thinking about an appropriate value.
From a longer-term perspective, the equity is poised to close above its 10-month moving average for the first time since July 2008.
The small-cap index remains above the 700 mark, which is the site of its 60-month moving average (equivalent to a five-year moving average).
Furthermore, resistance in the form of the equity's 20-month moving average is descending into the 50 region and could pressure the shares lower.
Its closely watched three-month moving average is now at -0.4, just fractionally above the -0.7 level that has marked the beginning of all seven recessions that have taken place since 1970.
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Massey Energy has marched more than 97% higher during the past year, gaining ground along the support of its 10-month moving average after breaking above this long-term trendline in May 2009.
The Barclays global business confidence index declined further in May, to -0.45 from -0.02 (three month moving average), the largest single drop in this series since December 2008, the investment bank said on Tuesday.
On a three month moving average basis, IP remains markedly weak, declining 0.1 percent versus the modest 0.8 percent expansion in March 2012 and much worse than the 5-6 percent growth seen during the first half of fiscal year 2011-12.
The closes below 11, 491 targeted the 200-week simple moving average at 10, 743 and the 120-month simple moving average at 10, 572.
Still, the three-month moving-average, at 746, 000, was above both the first and second quarter averages.
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However, the monthly chart stays negative on a close in October below its five-month modified moving average at 11, 749.
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The SOX began 2011 with a breakout above its 120-month simple moving average at 412.54 and the SOX is up 14.5% year to date.
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The monthly chart for SPY shifts to negative at the end of September with a monthly close below the five-month modified moving average at 127.52.
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The 120-month simple moving average is a major support at 1193.81.
Jim Comiskey, senior market strategist with MF Global, and Bhar both pointed out that gold held around its 200-day moving average on the sell-off last month, encouraging longer-term bulls.
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The stock has rallied nearly 25% during the past month, riding higher along support at its 10-day moving average.
The second column is when the stock fell right through the moving average and lost at least 5% within a month.
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The last two columns show the percentage of the time the stock bounced off the moving average to gain at least 5% within a month of the signal.
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"The eight-week moving average of claims in early March 2001, the first month of the recession according to the NBER (National Bureau of Economic Research), was just 362, 000, " he said.
Since the August 9 lows, the Dow Industrial Average has traded towards its 200-week and 120-month simple moving averages at 10, 650 and 10, 609.
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Finally, the Russell 2000 Index closed below its 160-week moving average for the first time since June 2003, a trendline with which it struggled for about a month to overtake as it moved out of its bear market lows that year.
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