I don't know if this has been posted here, so forgive me if I am asking a question that has already been answered.
As I understand it, and I don't have the exact figures, the P&F NYSEBP is on a sell signal. However, I recall comments that it reveresed down from the high 50% this time and that the coming sell won't be as severe as if it reversed down from a higher figure, say 70% or so like it did last summer.
My question is, historically speaking, like the 87 crash, where was the NYSEBP and from what level did it reverse to sell in that timeframe? Also, is a sell signal, like the one recently received, somewhat unusual in that we just had a previous sell signal not too long ago? How about on the NASDAQ? May have been a higher percentage last time, but this time the index is at a higher level? Would that be considered a divergence in sell signals that actually could portrend a larger decline even though the sell may have come at a lower percentage figure? Perhaps the sell in terms of the broader market won't be so bad as the broader market has not participated in the rally, but the indices might/could take a severe hit? Just trying to settle all these thoughts in my mind....
Well, I am full of questions and not sure I am making sense so I will stop with these.
Thanks to any responses.
-Scott
|
