We had 91% down volume, 80% declining issues.
The next day we had a huge 20+ point rally!
Today we had 94% down volume, and 80% declining issues.
Edited by Rogerdodger, 13 March 2007 - 11:40 PM.
Posted 13 March 2007 - 11:37 PM
Edited by Rogerdodger, 13 March 2007 - 11:40 PM.
Posted 13 March 2007 - 11:43 PM
Not sure that you are reading the tape right.....Down on heavy volume .....Up on light volume.....Down on heavy volume again and up on light volume again.....Is that bullish?.....March 5th was the SPX low so far.
We had 91% down volume, 80% declining issues.
The next day we had a huge rally!
Today we had 94% down volume, and 80% declining issues.
Posted 13 March 2007 - 11:59 PM
Edited by ogm, 14 March 2007 - 12:00 AM.
Posted 14 March 2007 - 12:06 AM
Lower looks obvious but often these extreme readings set up bear traps.Tomorrow is a big down day.
Edited by Rogerdodger, 14 March 2007 - 12:18 AM.
Posted 14 March 2007 - 07:01 AM
Posted 14 March 2007 - 07:42 AM
Kisa, They were to busy selling the financials .....The next stage will be the techs.....Nobody mentions here is though the tech stocks are a lot more resilient than I expected them to be.
I think the tech stocks are making a very strong bottom as the financials and the consumer discretionary type stocks are slowly underperforming, this might not be applicable now, but it is inline with the long term sector cycle (2+ yrs)...
- kisa
Posted 14 March 2007 - 07:59 AM
Kisa, They were to busy selling the financials .....The next stage will be the techs.....