Nasdaq Highs-Lows

    Posted by matt on 20th of Jul 2022 at 07:08 pm

    $COMPQ - Chart Link yep that's pretty close to zero

    I do know that the

    Posted by timebandit on 21st of Jul 2022 at 07:33 am

    I do know that the character of the market has changed in the last couple weeks or so. The first indication to me was when we had a ramp into end of day and the next day did not sell off. There have been some tells like that. Walt mentioned that this hasn't felt like a bear market rally, and I agree.

    That said, this is an indicator I am watching now. It's worked twice in this bear. Can it go 3-for-3?

    It already is 3 for

    Posted by drmolar on 21st of Jul 2022 at 09:23 am

    It already is 3 for 3 if you look back to Feb where it breeched the line

    Did the indicator go positive

    Posted by DigiNomad on 20th of Jul 2022 at 08:10 pm

    Did the indicator go positive in previous bear market rallies of significant magnitude? Seems like it might on the bigger / longer term rallies...and I'm not thinking of the  V rallies like we had out of March 2020 since that was 100% manufactured by the global central banks.

    here's the 2008 time frame.

    Posted by matt on 20th of Jul 2022 at 08:36 pm

    here's the 2008 time frame. Again if you have a STockcharts.commembership you can simply go back and look yourself$COMPQ&p=D&st=2007-05-01&en=2008-12-16&id=p12244937733&a=1138583279&listNum=27

    during the 2000 - late 2002 time frame it went above zero nicely several times on those rallies.  2008 is probably more of an outlier given how weak that year was

    again this is one indicator, you need to get a trigger off price, a confirmation, not just the indicator

    Thanks - appreciate the follow

    Posted by DigiNomad on 20th of Jul 2022 at 09:13 pm

    Thanks - appreciate the follow up!  (I chose TradingView over Stockcharts...would love to hear why that was a bad or good move).I know history doesn't necessarily repeat, but it often rhymes. It looks like maybe we're entering a period similar to March  through June 2008. I'm a huge bear in the medium term and think the messaging in the media about how we're near a bottom is nonsense given these economic circumstance haven't occurred in 40+ years, if ever (e..g. forward returns after pullbacks of this magnitude are followed by major gains 90% of the time, blah blah blah). The Fed is not coming to the rescue...that's all we need to know. mechanics are such that the bull side needs to gain more followers before the market can move lower. Paradoxically, markets typically bottom when sellers exhaust themselves and only buyers are left. Sellers are currently somewhat exhausted and need to recharge, IMO. 


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