One of the technical indicators I track is the percentage of NYSE stocks trading above their 50-day moving average. Usually, when this indicator hits 10-15%, it's the bottom of the bear rally, and usually the top is at 75-80%. Currently, this indicator has been holding steady at 1% for the past two days, the lowest number I've ever seen. And yet, I don't see a reason to believe we've seen the bottom yet.
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About this Entry
This page contains a single entry by Hugh Brown published on October 10, 2008 8:56 PM.
Privacy is dead. Get over it. was the previous entry in this blog.
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