Live Update

Tuesday, September 1, 2009

09/01/2009 After Bell Quick Summary

Hey, I wasn’t totally wrong yesterday as I said “a little little bit better chances a green close” and we did get a morning shoot up, didn’t we? LOL

Today is a Major Distribution Day which means the NYSE Down Volume to NYSE Up Volume ratio is greater than 9, so according to the chart below, 21 out of 30 (70%) times recently a green close the next day. Also among those 30 cases, there’re 23 cases the next day SPX had a lower low, some even were much lower than the low reached on the Major Distribution Day, so accordingly, if you do want to bottom fish (Hey, I don’t mean that you should) then perhaps wait until tomorrow is much safer.


Besides, don’t forget that the SPY still has 8 unfilled gaps, so SPY gap up tomorrow morning? Hmm...


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