I am NOT at all impressed with today’s bounce. Even though I mentioned yesterday I was making selective buys, I suspect today’s rally does not mean the end of the downward action.
As of 3:00 pm, internals are only fair, with the OTC advance/decline at a mere 16/14, and up/down volume barely over 2 to 1. Over at the NYSE, A/D is 17/15. while the up/down volume is even less impressive at 7 to 5.
With an hour to go, the volume is completely unimpressive — under Billion shares (814m) on the Nazz and barely 1.23 on the NYSE.
What would make me more impressed with today’s bounce? Broader participation, a significant volume thrust, and much much stronger volume.
Even if we do not see a late day sell-off, my takeway is that today’s move is simply not all that significant . . .
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.