Here are the updated custom market breadth charts for Dow, S&P500 and Nasdaq 100.
At this point the breadth overbought condition is neutralized. To form a proper market bottom, more time is needed to push the market breadth readings into oversold territory. This may take one to three weeks depending on how the market is reacting to the current price levels.
One thing for sure is that the volatility will continue to stay at a higher level throughout this period.
For our premium members, they are forewarned about this correction with 5% and 8% pullback targets realized over the past 2 days. For those who do not want to miss the upcoming great trading opportunities, sign up now to become a premium member today.
An interesting usage of advance / decline issues is to identify the market extremes. Here is one setup that has emerged as one of the best short term bottom picking ...
As indicated yesterday before market close that a pullback is due and that it is likely in the afterhours session, here it is - a selloff in the night at ...
After the turbulent period of June to mid-August 2007, as mentioned in the previous article, the explosive growth in real-time data has retreated some what. Here is an update about ...
One of the new real-time tools showing the custom breadth charts will go alpha soon. It’s been requested for a long time for which I could not make it happen ...
The original OddBall System no longer performs since end of year 2001 (see OddBall System - An Update). Here is an attempt to improve the system.
The Issue
The original Oddball system ...
Review of Forecast for Sep 26, 2016
Forecast of limited downside of 1.5% was spot. 2% swing up did not happen thanks to Deutsche Bank crisis but bullish bias kept S&P ...
Review of Forecast for May 4, 2015
The expectation of 2nd week of correction predicted the scenario correctly. Bottom out within the week too. The breadth analog model did an excellent ...
Review of Forecast for Aug 24, 2015
Extreme intraday swings expectations played out. The extreme gap down led to violent bounce back up to fill the gap was unexpected. The breadth ...
Market Breadth Correction Progresses To Neutral
An update to my post back in mid-September pointing out that a market breadth driven correction was on the way.
Here are the updated custom market breadth charts for Dow, S&P500 and Nasdaq 100.
At this point the breadth overbought condition is neutralized. To form a proper market bottom, more time is needed to push the market breadth readings into oversold territory. This may take one to three weeks depending on how the market is reacting to the current price levels.
One thing for sure is that the volatility will continue to stay at a higher level throughout this period.
For our premium members, they are forewarned about this correction with 5% and 8% pullback targets realized over the past 2 days. For those who do not want to miss the upcoming great trading opportunities, sign up now to become a premium member today.
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