The first chart you see above the post depicts the daily count of the number of issues on the New York Stock Exchange that advance in price.
I want to point out that so far today's reading is the lowest since the October 12, 2005 reading. That was the day that preceeded the low at 1168 in the cash S&P. Generally speaking, when the market is making higher lows and then shows an extremely low daily reading in the advancing issues number it is telling us that a low is forming and that a strong rally lies dead ahead. I think that this is the message it is sending us today.
No comments:
Post a Comment