Profunds index and sector trading

[Namiar]

For kicks I took SIRI volume for the past 5 trading days and replaced it with 50 million shares, and reduced the appropriate Up or down volume in RAIM accordingly.

As a result of that exercise, the OB-OS indicator comes out to -1 (actually -.98).

Using advancing and declining volume as reported by the NASDAQ web site, I get the OB-OS indicator at -2.70.

The scalp threshold I am using is -1.0 for Bull markets.

The conclusion I draw is that SIRI volume had a large effect on todays internals, but taken over the period of a 5-day weighted moving average, the effect was minimal.

So I have a scalp active for tomorrow, the first one in 7 weeks. All in all, I would rather not be in it given what my gut says is a need for a steep correction. But I am the type of person who prefers to blindly follow a mechanical program than engage in a daily hand-wringing ritual.