Tuesday, April 15, 2014

The stoogie old DOW futures had a wild day today, they went up 100 points out of the open, fell 200 points to the low of the day, and then rallied 242 points from 1 PM into the close, to close higher by about 90 points, JUST YOUR TYPICAL DAY!!
Rather than speculate and pontificate about whether this is the bottom, I'd rather look at some facts, and FinVIZ, which covers 6,358 stocks, said 120 of them made new 52 week highs while 177 of them made new lows. The $NYSI is not CLOSE to a buy signal, in fact it accelerated to the down side, the $NYAD's did rise today a little, far from a THRUST that you like to see.
The table is my Market Monitor going back to last August which cover's the last four "bottoms" as shown on the SPY chart, as you can see for the "most" part the stocks that were up 4% or more on the day over whelmed the stocks that were down 4% or more for the first few days off the bottom, in three of them we had HUGE days where there were over 100 or more higher compared to the stocks lower in the teens and 20's, this is the second "UP" day in a row where the loser's out numbered the winner's.
INTC and YHOO are pushing the futures higher off of their punk earnings so maybe we start turning these stat's around tomorrow going into the Holiday, which is "traditionally" higher the last couple of days ahead of it, so, good luck to you.


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