Now we have 19 to 1 Up/Down volume on NYSE
#1
Posted 29 August 2007 - 03:26 PM
#2
Posted 29 August 2007 - 03:41 PM
#3
Posted 29 August 2007 - 03:56 PM
Well, what d'you know. Yesterday at this time I was looking at 15 to 1 Down to Up volume. What difference a day make! Have we finally / finally made IT lows? Any thoughts? Thanks.
Yes, an IT bottom. Most contrarian analysis supports it...second 90%+ up volume day since the bottom. Charts support the bottoming process after stopping everyone out. COT is bullish. Fed is on a rate lowering cycle. Most fundamentally aligned traders are looking for a recession (so they're not buying). I'm hearing nothing but "Credit Crunch" and parallels to 1987. Even my tax guy is telling me that everything is going to fall apart. In other words...it's a bottom just like the rest of the bottoms we've seen over the years.
D
#4
Posted 29 August 2007 - 04:00 PM
Well, what d'you know. Yesterday at this time I was looking at 15 to 1 Down to Up volume. What difference a day make! Have we finally / finally made IT lows? Any thoughts? Thanks.
had some data on it, can't find the paperwork. 19 to 1 NYSE up/down volume very bullish for the intermediate term. confirms the lows are in.
Outspeaks the Squire, "Give room, I pray,
And hie the terriers in;
The warriors of the fight are they,
And every fight they win".
Ring-Ouzel, England
#5
Posted 29 August 2007 - 04:15 PM
qti: The wild swings in the A/D and the price indicates market is making an IT bottom. However, near term this could lead into another swing. Depending on your time frame, I would not chase tomorrow. Good trading.Well, what d'you know. Yesterday at this time I was looking at 15 to 1 Down to Up volume. What difference a day make! Have we finally / finally made IT lows? Any thoughts? Thanks.
Edited by redfoliage2, 29 August 2007 - 04:18 PM.
#6
Posted 29 August 2007 - 04:22 PM