today was a 90% down day so look for a strong rally for a few days. nevertheless, the trend has probably turned and there should be more such days in the next month. it will be fun to listen to all the calls that this is just a correction which still have a possibility of being right - but only a small one.
90% down day
Started by
wallyw
, Jul 24 2007 04:37 PM
7 replies to this topic
#2
rkd80
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Posted 24 July 2007 - 05:06 PM
today was a 90% down day so look for a strong rally for a few days. nevertheless, the trend has probably turned and there should be more such days in the next month. it will be fun to listen to all the calls that this is just a correction which still have a possibility of being right - but only a small one.
where did you get the 90% down day from...would be nice to know that before the down day happened btw.
“be right and sit tight”
#3
hiker
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Posted 24 July 2007 - 05:06 PM
fyi...see final post in this thread....posted last night
based on price and MA crossovers only..no FF calls -
http://forums.techni...post?id=1941314
the 1525 SPX cash horizontal that began the thread is also of interest relative to today's close
based on price and MA crossovers only..no FF calls -
http://forums.techni...post?id=1941314
the 1525 SPX cash horizontal that began the thread is also of interest relative to today's close
Edited by hiker, 24 July 2007 - 05:08 PM.
#4
qqqqtrdr
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Posted 24 July 2007 - 05:33 PM
today was a 90% down day so look for a strong rally for a few days. nevertheless, the trend has probably turned and there should be more such days in the next month. it will be fun to listen to all the calls that this is just a correction which still have a possibility of being right - but only a small one.
where did you get the 90% down day from...would be nice to know that before the down day happened btw.
In a way you did. If you assumed we hit a top last week, and measured the -32 NASDAQ downday and took a look at NYSE volume on that day it was only a 7-8X volume down day meaning more downside to come. Now we have a big sell-off with a 10X volume downday/up volume, so you know a bottom is at hand. Mc Clellan NYSE is < -200 and NASDAQ McCLellan < -50 which are both signs of a short term bottom. At this point a counter up day is likely especially with such a high CBOE Put/Call Ratio of 1.40. These things you could have known about 15 minutes before close. Volume can be gotten from yahoo finance market overview page.
Barry
#5
rkd80
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Posted 24 July 2007 - 05:41 PM
Barry,
I thought that the OP meant that today was a 90% likely-hood of a downday. You suggesting he meant something else? Like volume...or something? I am confused by your post.
rkd
I thought that the OP meant that today was a 90% likely-hood of a downday. You suggesting he meant something else? Like volume...or something? I am confused by your post.
rkd
today was a 90% down day so look for a strong rally for a few days. nevertheless, the trend has probably turned and there should be more such days in the next month. it will be fun to listen to all the calls that this is just a correction which still have a possibility of being right - but only a small one.
where did you get the 90% down day from...would be nice to know that before the down day happened btw.
In a way you did. If you assumed we hit a top last week, and measured the -32 NASDAQ downday and took a look at NYSE volume on that day it was only a 7-8X volume down day meaning more downside to come. Now we have a big sell-off with a 10X volume downday/up volume, so you know a bottom is at hand. Mc Clellan NYSE is < -200 and NASDAQ McCLellan < -50 which are both signs of a short term bottom. At this point a counter up day is likely especially with such a high CBOE Put/Call Ratio of 1.40. These things you could have known about 15 minutes before close. Volume can be gotten from yahoo finance market overview page.
Barry
“be right and sit tight”
#6
qqqqtrdr
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Posted 24 July 2007 - 07:25 PM
[quote name='rkd80' date='Jul 24 2007, 07:41 PM' post='301595']
Barry,
I thought that the OP meant that today was a 90% likely-hood of a downday. You suggesting he meant something else? Like volume...or something? I am confused by your post.
rkd
90% of the total volume of NYSE is to the downside. This is a 90% down day.
Barry
Barry,
I thought that the OP meant that today was a 90% likely-hood of a downday. You suggesting he meant something else? Like volume...or something? I am confused by your post.
rkd
90% of the total volume of NYSE is to the downside. This is a 90% down day.
Barry
#7
wallyw
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Posted 24 July 2007 - 08:21 PM
today was a 90% down day so look for a strong rally for a few days. nevertheless, the trend has probably turned and there should be more such days in the next month. it will be fun to listen to all the calls that this is just a correction which still have a possibility of being right - but only a small one.
where did you get the 90% down day from...would be nice to know that before the down day happened btw.
90% down down days are officially called by lowrys but can be calculated from the a-d volume that's available on yahoo and elsewhere. lowry's has a report that can be googled.
#8
wallyw
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Posted 24 July 2007 - 08:22 PM
[quote name='qqqqtrdr' date='Jul 24 2007, 07:25 PM' post='301617']
[quote name='rkd80' date='Jul 24 2007, 07:41 PM' post='301595']
Barry,
I thought that the OP meant that today was a 90% likely-hood of a downday. You suggesting he meant something else? Like volume...or something? I am confused by your post.
rkd
90% of the total volume of NYSE is to the downside. This is a 90% down day.
Barry
[/quote]
and 90% of the points which is a small point.
[quote name='rkd80' date='Jul 24 2007, 07:41 PM' post='301595']
Barry,
I thought that the OP meant that today was a 90% likely-hood of a downday. You suggesting he meant something else? Like volume...or something? I am confused by your post.
rkd
90% of the total volume of NYSE is to the downside. This is a 90% down day.
Barry
[/quote]
and 90% of the points which is a small point.
