The chart below shows more aggressive downside trading
activity on the NYSE. This oscillator tracks thrust sessions has moved below
the zero line (red circle). These readings stack the odds against a short term
Net NYSE Up Thrust Days v Down Thrust Days
Up Day: Adv/Dec 2:1 and UpV/DnV 2:1
Down Day: Dec/Adv 2:1 and DnV/UpV 2:1
click for bigger chart
Protracted trading ranges tend to damage the confidence of
both bears and bulls alike: Breakouts fail, breakdowns reverse back up. Kevin
Lane notes “what happens is you get both sides trading very tentatively, thus
drawing out the range even longer. . . internals are starting to support a more
bearish case, we would suggest waiting to see more conviction on a move.
Quote of the Day:
"Every Man with a new idea is a crank
until the idea succeeds."
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.