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Non-Tech : Kirk's Market Thoughts
COHR 164.29+6.7%12:59 PM EST
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To: Kirk © who wrote (3432)9/21/2015 2:36:24 PM
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Kirk ©
The Ox

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Not a lot of history with that poll. Fortunately we have a lot of other meaningful data that says a good bottom should be forming in the not too distant future.

I think we will get at least a retest of the lows last month.

Sentiment is overly bearish.
The put to call ratio has been showing the same.

What we need to see is a retest followed by a 9 to 1 upside day or a couple of 80% upside days. First the market is going to retest in my opinion because we have not yet seen such a day since the August bottom. I want to see 8 to 1 twice in close succession on up volume and issues. One 9 to 1 day would do it.

finance.yahoo.com

markets.wsj.com

This should also show up in a higher volume up day than the previous last down day. Then as things improve more a higher volume up week followed by a higher volume up month.

Are we there yet? No, but there are a lot of constructive things happening. Keep an eye on all the major market charts because for now there might just be more downside ahead.

Volume and market breadth will tell the story:





The August bottom was almost good enough but not quite in my humble opinion.

But then I am wrong a lot. Then again sometimes I get it right too.

RtS
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