Assessing Market Action With Indicators And History
Monday, November 30, 2009
Friday's Breadth Was SO Negative...It Could Be Positive
Friday’s selloff was marked by extremely negative breadth. Around 97% of the volume was to the downside on the NYSE. In the past, days that have been SO negative have often led to bounces over the short-term. This can be seen in the study below.
The “% Profitable” is positive but not overwhelming. Risk/reward is pretty solidly bullish, though with the"Avg Trade" showing some strong numbers.
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In this era of web 2.0, we easily get nice & updated information for research purposes... I'd definitely appreciate the work of the said blog owner... Thanks!
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