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Strategies & Market Trends : SPY & QQQ intraday chart observations by rimshot -- Ignore unavailable to you. Want to Upgrade?

To: rimshot who wrote (1149)	1/20/2023 12:49:44 PM
From: rimshot	1 Recommendation Recommended By ajtj99 Respond to of 1309

Current January 20 Lowry's Up / Down Volume Ratios for $SPX, $NDX and $RUT: pbs.twimg.com 60-minute charts Message #1149 from rimshot at 1/18/2023 6:01:11 PM Lowry's Up / Down Volume ratio did NOT decline during January 18 trading day to the negative 90 level for: $SPX - $NDX - $RUT ... ** bears need to see a further decline to or below the negative 90 level in future hours or days to avoid upward bounces which may have decent legs =================================================== quote from Paul Desmond PDF - 1. A single, isolated 90% Downside Day does not, by itself, have any long term trend implications, since they often occur at the end of short term corrections. But, because they show that investors are in a mood to panic, even an isolated 90% Downside Day should be viewed as an important warning that more could follow. 2. It usually takes time, and significantly lower prices, for investor psychology to reach the panic stage. Therefore, a 90% Downside Day that occurs quickly after a market high is most commonly associated with a short term market correction, although there are some notable exceptions in the record. This is also true for a single 90% Downside Day (not part of a series) that is triggered by a surprise news announcement. 3. Market declines containing two or more 90% Downside Days often generate a series of additional 90% Downside Days, often spread apart by as much as 30 trading days. Therefore, it should not be assumed that an investor can successfully ride out such a decline without taking defensive measures. 4. Impressive, big-volume “snap-back” rallies lasting from two to seven days commonly follow quickly after 90% Downside Days, and can be very advantageous for nimble traders. But, as a general rule, longer-term investors should not be in a hurry to buy back into a market containing multiple 90% Downside Days, and should probably view snap-back rallies as opportunities to move to a more defensive position. 5. On occasion, back-to-back 80% Upside Days (such as August 1 and August 2, 1996) have occurred instead of a single 90% Upside Day to signal the completion of the major reversal pattern. Back-to-back 80% Upside Days are relatively rare except for these reversals from a major market low. 6. In approximately half the cases in the past 69 years, the 90% Upside Day, or the back- to-back 80% Upside Days, which signaled a major market reversal, occurred within five trading days or less of the market low. There are, however, a few notable exceptions, such as January 2, 1975 or August 2, 1996. As a general rule, the longer it takes for buyers to enthusiastically rush in after the market low, the more investors should look for other confirmatory evidence of a market reversal. 7. Investors should be wary of upside days on which only one component (Upside Volume or Points Gained) reaches the 90.0% or more level, while the other component falls short of the 90% level. Such rallies are often short-lived. 8. Back-to-back 90% Upside Days (such as May 31 and June 1, 1988) are a relatively rare development, and have usually been registered near the beginning of important intermediate and longer term trend rallies.