Russell 3000 Points down: 87% Volume down:85% SP-500 Points Down: 96.8% Volume Down: 89.5% Close on the S&P, but no cigar.
Chas, yeah like the core of the earth. Everything is lineing up perfectly for a rally, except SUPPORT.
July 22 Russell 3000: 86.7% points down 70% volume down SP-500 93% points down 86.7% volume down SP-500 has had many terrible days of 80% + and a few 90% + over the last month or so. Russelll 3000 has not had one true 90% day except July 5, a shortened day, and almost had a 90% up day before then, July 2 or 3rd.
Man...seems like we're getting further and further away. Of course, we don't really need a bottom right now. A bounce will do. One of Trim-Tabs' indicators (L1, measures the availability of stock to buy) has turned hugely bullish as of Friday last. But it's not a complete signal. Also, the same people reason that mf outflows are a contrary (lagging) indicator. Just noticed Dow futures on Globex down 102... wait! now it's only down 38, and the NAZ went green! Oh well. g'nite.
Russell 3000: Points up 97.7% Volume up 91.6% This is a rarity, a 90% up day. This coming on the heels of several 80% down days. I bet Lowrys will report a 90% day for the NYSE. I'll do the SP later,but I suspect the figures will be even higher.
NYSE was 92% up (volume) UpVol: 161837395 DnVol: 14195420 It was a tremendous day. I'm a little worried as there is way too much talk of 'a bottom'. Now where is Lundy? or for that matter his detractors?
Lundy is an example of Hubris. He hit the September bottom and felt his call last month was aforegone conclusion. He made no provision for confimation and was justly ridiculed.