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[TechMan]

Yesterday's "rally" had propped up most EOD technical indicators. That's misleading because the EOD data did not take into account the Dow's 224-point plunge from 2:20pm to 3:50pm. While the EOD data tell no tale of distortion, technical deterioration throughout the day is quite apparent and consistent. My intraday scan of the "gap-up's", for example, had dropped from the initial 246 issues to 114 by the EOD. Remember my comment on Thursday, 9/22/11, the day I had the largest number of issues gaped down on record? That day started with 587 and ended with 576. There's not much change there, and that tells me that's the real deal. Anyway, just wanted to point that out before the kickoff. Good luck and good day. ============= [EDIT] For clarification, that record day, 9/22/11, was a contrarian bullish indicator for me. Yesterday wasn't "contrarian" enough to be a real contrarian indicator.

Edited by TechMan, 28 September 2011 - 07:58 AM.