Wednesday, April 14, 2010 10:17:46 PM
Okay, what the hell? Well, if you're short, as I am, feel comfort in these:
First is the DOW's bullish % index chart. What this is is a culmination of all 30 DOW stocks and what % of them are point and figure buy signals. As it stands now, it's at 96%, or 29 of the 30 all on buy signals. (I won't go into that here). The key here is to know that rarely does this happen where an index hits above 90%. The last time? 2007. Yup, you know what happened then. The time before that? 2004 and 2000. Need I say more?
The next one is of the Nasdaq 100. Currently at 91%, or 91 of the NDX 100 stocks (QQQQ) on buy sigs. Last time? 03, 00. Again, what happens after these types of moves? Well, just look at the charts.
First is the DOW's bullish % index chart. What this is is a culmination of all 30 DOW stocks and what % of them are point and figure buy signals. As it stands now, it's at 96%, or 29 of the 30 all on buy signals. (I won't go into that here). The key here is to know that rarely does this happen where an index hits above 90%. The last time? 2007. Yup, you know what happened then. The time before that? 2004 and 2000. Need I say more?
The next one is of the Nasdaq 100. Currently at 91%, or 91 of the NDX 100 stocks (QQQQ) on buy sigs. Last time? 03, 00. Again, what happens after these types of moves? Well, just look at the charts.
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