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Oddly enuf, both are again right about where they were when I posted this. Moderately bearish readings, but nothing severe.Daniel wrote:Naz and NYSE up/down volume is about 2/1 bearish... and near the worst levels of the day.
This is an excellent question, and even now probability-based Algos are rummaging around in that, and some other odd disparities, for clues. Along the lines of this query is the one posed and answered by D.Lyons, pundit, in the following post:crawford glissadevil wrote:What does it mean when the Dow goes down for the 8th strait day, the day after the NDX makes an All Time High? I'm pretty sure that's never happened before.
and down she goesfehro wrote:triangle..LOD goes /aka 20d SMA .. look out below
fehro wrote:mind the nasty gap down tomorrow
Outstanding thought provoking answer Daniel. So we got 2 events that have never occured before-Daniel wrote:This is an excellent question, and even now probability-based Algos are rummaging around in that, and some other odd disparities, for clues. Along the lines of this query is the one posed and answered by D.Lyons, pundit, in the following post:crawford glissadevil wrote:What does it mean when the Dow goes down for the 8th strait day, the day after the NDX makes an All Time High? I'm pretty sure that's never happened before.
"In some ways the bulls resilience over the past 3 days has been unprecedented. Consider this – in each of the 3 days from June 15-June 19, the S&P 500:
=> Was down at least 0.75% at some point during the day and
=> Rallied to close in the upper 85% of its daily range
How noteworthy is this 3-day feat? It is actually the first time the index has ever accomplished it in its nearly 70-year history. In this case, as the S&P 500 has never put together such a 3-day stretch, it is impossible to test what might happen next.
However, there have been 10 occasions on which we saw 2 consecutive days meeting the above criteria. For what it’s worth, the action in the S&P 500 following those events was wild – in both directions. For example, the average change 1 month following these historical events, on an absolute basis, was a whopping 7.8%.
6 months following the events, the S&P 500 was up or down by an average of nearly 18%. So, will our current episode result in wild action in the stock market again?"