Jim,
>>>>>> How could the new highs improve at all Don? Most stocks have been sliding for a while, it would seem logical that it would take time for even a few stocks to exceed their peaks unless they were IPO's, takeovers, or reverse splits. im, <<<<<<<<<
Many are comparing current market to last OCT, implying that yesterdays 500 point drop is the end of this correction. If I recall correctly, it was about 4-5 days that the NEW HIGHS improved to the 140 range, but I cant remember if the NEW HIGHS improved the day of the big bounce. Also the NEW LOWS improved dramatically and almost immediately from 300 to under 50, and I believe that was within 1-2 days.
You are correct that the NEW HIGHs will take longer to improve, and longer than last OCT, since we are much lower than then, but the NEW LOWS can improve immediately and dramatically.
So lets say that with a 430 point rebound off of the intraday lows, the NEW LOWS are still very bad at 930.
Seeya
Seeya |
