The bottom line, I believe now you may have plenty of indicators screaming for a rebound, well, at least wait for a few days because I have a solid evidence saying that there’s at least one lower close ahead. I think now perhaps fewer people doubt that indeed a NYMO positive divergence is needed in order for the market to form a real bottom, well, too bad, there’s no lower low yet on NYA so officially there’s no positive divergence yet (see 0.2.3 NYSE McClellan Oscillator).
One trick for tomorrow, 31 out of 46 times (67%) a green day the next day after a Major Distribution Day (NYSE Down Volume to NYSE Up Volume Ratio >= 9).
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