Friday, September 26, 2014

My "Market Monitor" hit 1283 stocks that are down 4% or more for the last week, this has over 2900 stocks in it, and I keep track of stocks that are UP or DOWN 4% or more for the week and each day. I marked the SPY chart with red arrows the last two times we hit any thing close to this number of stocks on the DOWN side, April 10 with 1286 and July 31 with 1020.
Both times the SPY was down the next day with a much smaller range and loss, the stocks down 4% were close to 1000, and it was close to the end of the "move", as the SPY basically held that 100 EMA.
This, of course, doesn't mean a DAMN THING, hahahahahahahahahaha!!!!! Just because it did it before, held in this area that is, doesn't mean it's going to do it THIS TIME! That's just a little "Disclaimer" here, I'm just telling you what my monitor was saying in the past.
That 100 EMA is sitting around 195 right now, seem's like a nice number to me for the SPY to hit.


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