Was today a Lowry's 90/90 day? It looks to me like it was. Issues: NYSE Nasdaq Advancing 597 597 Declining 2,661 2,407 Unchanged 123 133 Total: 3,381 3,137 Issues at: 52-Week High 36 43 52-Week Low 126 77 Volume: Advancing 177,693,000 294,851,000 Declining 1,722,375,000 1,504,237,000 Unchanged 6,218,000 157,346,000 Total: 1,906,286,000 1,956,434,000
a 90% downside day occurs when both the declining volume and the number of downside points equal or exceed 90% of the total volume and the total number of points, respectively. A 90% downside day sometimes signals the beginning of a panic decline, or if the market is already oversold, further evidence of a very oversold market. Generally, a significant market bottom is preceded by two or more number of 90% downside days. A single 90% downside day like today may create an oversold situation in the short-term - one which would signal a temporary bottom - but with a number of intermediate term indicators (see below charts) still neutral or in an overbought situation, the chances of a bottom here is very low. In fact, today's 90% downside day could be a signal for further panic declines down the road. So it could go up or down?
That was something I found on google, refers to a day in 2002. Anyone got any more information on this?
=========== Thanks including the definition of 90/90; other signals of new trend up= higher closes, higher closes. Other signals of new trend up; most of stocks in sectors closing higher, higher highs, higher lows....... Flip it for downtrends; & probably a good idea for some players to believe. ''must be followed by 90/90 up day to signal a new trend up'', especially in a bull market