Yesterday the NYUPV:NYTV was .05 a very low number. If you remember on August 17th, I mentioned that this ratio was .06. The market rallied from 980-1030 after that. On average the market rallied 8 points after a .06 or less ratio day.
Wednesday, September 2, 2009
Up Volume pulls a Houdini
Down days are back, surprisingly SPX managed to put together two down days together. While this is a good start of either a move down or a correction. There is a possibility of a one day move up.
Yesterday the NYUPV:NYTV was .05 a very low number. If you remember on August 17th, I mentioned that this ratio was .06. The market rallied from 980-1030 after that. On average the market rallied 8 points after a .06 or less ratio day.
While there is a chance of a bounce back, if the market is starting to move down, then there is a chance that there can be more down days like this ahead. So watch for volatility to pick up if these days become more frequent, as we saw in Oct and Nov of 08.
Yesterday the NYUPV:NYTV was .05 a very low number. If you remember on August 17th, I mentioned that this ratio was .06. The market rallied from 980-1030 after that. On average the market rallied 8 points after a .06 or less ratio day.
