Some context from a posting by Larry Connors yesterday (BMO
Monday)
Since 1962, the S&P has only once before closed down six
consecutive weeks above its 200-day moving average (it occurred in
January 1969). Last Friday made it twice. When it did occur over 42
years ago, the market rallied strongly the next week and
month.
I’ve looked at a number of indicators over the weekend,
including the 6-week price decline and, adding everything together,
I see nothing out of the ordinary. This has simply been a 7%
pullback coming off of three-year highs made at the end of April.
Whether it pulls back further is unknown but, as I’ve mentioned a
few times, volatility and fear still remain fairly low. Such
complacency is a concern, but all in all the market is due for a
good bounce, especially if we get one sharp down day (that’s where
the real fear will come in).
nice stats sonofrebel, especially the stats about the 6 week
stats, and combined with options expiration that ends to give a bid
to the market after it has been down, with a nice recipe for a
bounce
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Re-Current trade stats
Current Trade stats
Posted by cooksbay on 13th of Jun 2011 at 08:07 pm
Good discussion of reality, Matt.
Much appreciated.
Steve G
Title: Re-current trade stats Some context
Posted by sonofrebel on 14th of Jun 2011 at 01:04 pm
Some context from a posting by Larry Connors yesterday (BMO Monday)
nice stats sonofrebel, especially the
Posted by matt on 14th of Jun 2011 at 10:50 pm
nice stats sonofrebel, especially the stats about the 6 week stats, and combined with options expiration that ends to give a bid to the market after it has been down, with a nice recipe for a bounce