LG, The TA'er on the local station (your favorite KWHY) described today what is called the "Titanic effect" and its three components:
1. Lower new highs, higher new lows in NYSE for 5 days in a row
2. NYSE closing down 5 days in a row
3. And, darn it, I forgot the third one!!!
However, he pointed out that we just completed component #1.
Lower new highs, higher new lows in NYSE for 5 days in a row.
Last Fri- 19 NH, 50 NL
Monday - don't have #'s but met criteria
Tuesday - 38 NH, 56 NL
Wed. - 46 NH, 72 NL
Thur. - 55 NH, 83 NL
Today, shows 99 NH, 97 NL, per Yahoo, but if IBD's #'s reflect a diff in tomorrows paper, it will probably be the difference in the OTC stocks that they don't include in their #'s.
If I remember that 3rd component, I'll post <G>.
Anyone heard of the "Titanic effect"?
Challo |
