This is the 2nd time it has happened in a week. There have been only three other occurrences where the setup has triggered twice in a 1-week span. They were 4/10/96, 3/7/00, and 5/10/04 - all followed by nice rallies in the next few weeks.
Wednesday, August 13, 2008
SOX Bucks Selloff Again
The unusual strength in the SOX continues. I wrote about this last week. Tonight another example of how the market has performed when the SOX takes a leadership position. This time the comparison is to the SPX rather than the Nasdaq: 
This is the 2nd time it has happened in a week. There have been only three other occurrences where the setup has triggered twice in a 1-week span. They were 4/10/96, 3/7/00, and 5/10/04 - all followed by nice rallies in the next few weeks.
This is the 2nd time it has happened in a week. There have been only three other occurrences where the setup has triggered twice in a 1-week span. They were 4/10/96, 3/7/00, and 5/10/04 - all followed by nice rallies in the next few weeks.
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5 comments:
the oddity of 3/7/00, a nice rally for the SP500 (and the Dow) a few weeks later but the final thrust up for the dotcom mania before the bubble popped.
Jimmy
Im curious about the testing peroid. The twenty days holding...is this twenty trading days or calendar days? thx
Trading days.
I'm curious about the distribution of trades over that time period. Were there more or less during the bubble relative to 2003-07 bull market.
rob,
Where are you ? We miss your pearls of wisdom !
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