I’m seeing lots of evidence suggesting a bounce is imminent. The last couple of days the market has not complied. I suspect it will fairly soon.
Tuesday, June 7, 2011
A Breadth Measure That Hit an Extreme Monday
To examine breadth one measure I use looks at the % rank of the % of up volume on a certain day over the last year. This reading is shown on the charts page every night. It is also part of the Tradestation package available for purchase (or free to subscribers). Monday’s Up Volume % breadth was among the lowest 2% of the last year. With the market also being down for the 4th day in a row, that triggered this study from the 11/17/10 subscriber letter.
I’m seeing lots of evidence suggesting a bounce is imminent. The last couple of days the market has not complied. I suspect it will fairly soon.
I’m seeing lots of evidence suggesting a bounce is imminent. The last couple of days the market has not complied. I suspect it will fairly soon.
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3 comments:
I agree. This losing streak is getting pretty overdone. I was just writing about this in my own blog yesterday.
And yet the failure to rally in the face of such technically oversold conditions is in itself worrisome. But who knows, maybe the sun will come out tomorrow.
Fibonacci Time Relation to Fear Factor predicts Drop on July 4th
Could be just a coincidence. After 2 years of being pounded, even bears are looking for the bullish case.
But this Fibo time prediction is at least curious, it is using the Fear
Factor to predict a spike in Fear on July 4th, that would not a bottom
but the start of a rapid decline. Drop a comment or even your own
chart.
http://oahutrading.blogspot.com/
Rob,
where does the CBI stand now, looks like its going to be a loosing trade.
Bill
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