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Technology Stocks : Semi Equipment Analysis
SOXX 299.67+1.5%Nov 12 4:00 PM EST
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To: Gottfried who wrote (71500)2/9/2016 12:58:35 PM
From: robert b furman  Read Replies (1) of 95406
 
Hi G,

Does this statement about bear market reversals ring true to your observations?

3. Market internal condition remains treacherous with only 20-30% of stocks on NYSE, NASDAQ and S&P 500 trading above their 200 day EMA's while bullish percent indices for these three are 29-33%. It is stated by Greg Schnell of Stockcharts.com that based on the prior bear market patterns of 2000 and 2008, a bull market is not possible until BPIs exceed 60-70%. Any bounce which tops out at less than these levels suggests lower lows ahead.

Bob
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