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Strategies & Market Trends : CFZ E-Wiggle Workspace
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To: kckip who wrote (40478)12/7/2024 8:07:22 AM
From: skinowski1 Recommendation

Recommended By
kckip

   of 41461
 
I think overall, an index advancing while most stocks are negative implies that the market advance is narrowing. That the strength in relatively few stocks may mask the weakness of the index overall.

In this case, it occurred for 8 days in a row - and only the 2nd time in history. The first time it happened in 1928 - during a tremendous bull market (which proved to be the blow off before the greatest Bear ever, starting the following year - 1929)

This probably means something - even though 2 times in history may not be enough to prove anything. That said, extreme events in the market always deserve attention. And… we’re not here to prove anything - but to navigate the markets while avoiding losses… the best we can.

An old story — I think it was JP Morgan who was once approached by a young man who was extremely concerned about the markets, and couldn’t sleep at night. JPM’s advice was - “Sell to the point of sleeping”.

PS - recall reading that the Advance / Decline line topped in April of 1998 - way before the market top in 2000. Some people consider that to be the “true” top of the Bull market of the late 90’s. Personally, I doubt this - one would be in huge trouble trying to short the stretch between that AD top - and the actual price top a couple of years later. But, yeah, it was a great early warning.
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