TraderGirl wrote:I don't have the ability to do any charts right now, but if you look at the QQQ's into the low on Oct 2nd, you can see 5 waves down, so since price has retraced this far from the bounce we got, most likely see a lower low than Oct 2nd low...abc down from the high on 9/18.....5 waves down for "a" into Oct 2nd, bounce into "b" Oct 6th, now in "c" wave down....
Thanks TraderGirl. Do you currently see this mornings up move as wave 4 of the decline from the sixth?
Perhaps it's a "b" wave triangle or bearish wedge forming....
flumanchu wrote:.
Breadth has not confirmed this move... yet...
A read of above 50 for T2120/21/22 and up move is confirmed....
From what I'm looking at, not yet...
It's close, and might finish strong, but just not there yet...
A close above 50, and you got >80% chance of seeing new all time in the next three months (100 years of data). A close ~61.5 in the next 10 days, and you got >98% chance of seeing +10% gain in the next 12 months (100 years of data).
A close above 50, and you got >80% chance of seeing new all time in the next three months (100 years of data). A close ~61.5 in the next 10 days, and you got >98% chance of seeing +10% gain in the next 12 months (100 years of data).
wow interesting. can i know where the stats come from? can i share it?
The goal is not uniformity. It is understanding and idea exchange.
A close above 50, and you got >80% chance of seeing new all time in the next three months (100 years of data). A close ~61.5 in the next 10 days, and you got >98% chance of seeing +10% gain in the next 12 months (100 years of data).
wow interesting. can i know where the stats come from? can i share it?
Internet (Search , "Zweig Breadth Thrust") and my own data replication.
You can get input data (to 1965) for free from here http://unicorn.us.com/advdec/index.php
and to 1926 from Stock Charts as a pro member.
You can also get ZBT to 1987 in FreeCharts
flumanchu wrote:.
Breadth has not confirmed this move... yet...
A read of above 50 for T2120/21/22 and up move is confirmed....
From what I'm looking at, not yet...
It's close, and might finish strong, but just not there yet...
t2103.png
A close above 50, and you got >80% chance of seeing new all time in the next three months (100 years of data). A close ~61.5 in the next 10 days, and you got >98% chance of seeing +10% gain in the next 12 months (100 years of data).
Thank you for this post. Very interesting statistics.
Last edited by ALdaytrade on Wed Oct 08, 2014 3:26 pm, edited 1 time in total.