Rather than combining for a bullish edge it appears the scenario above has often been followed by downside.
Friday, January 8, 2010
A Study Based On Thursday's Action
Thursday’s price & volume action had a lot of characteristics that would appear bullish. These include the fact that it posted an outside day and closed higher. It also made a new 50-day intraday high. The SPX is in a long-term uptrend and trading above its 200ma. Lastly, the volume rose Thursday as the market rallied. Sometimes it can be interesting to take a number of market observations like these that would seem to obviously suggest a bullish edge and run them through the wayback machine. Below is a study that did just that:
Rather than combining for a bullish edge it appears the scenario above has often been followed by downside.
Rather than combining for a bullish edge it appears the scenario above has often been followed by downside.
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2 comments:
Not sure why the numbers in "All trades" column is changing. Shouldn't that number be the same for all rows?
thanks,
Nidhi
I just came to the realization from watching this Bloomberg video that at the average rate of job growth coming out of previous recessions it would take us 11 years to get back to 2007 levels of employment. In fact, even if we were at 300% above the average, which would represent a very aggressive recovery, then it would take 3-4 years to get back to 2007.
Link to Bloomberg Video:
http://bit.ly/5nZ8yB
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