Busy day today here on zentrader. Hard not to be glued to the charts as it’s not everyday we’re knee deep in a crises (although it sure does feel eerily familiar).

I thought last week was bad with selling pressure and a potential extreme since I remember tracking the downside volume with a reading of 98.3%

Today we had a reading of 99.98%.

Another chart I’m watching as a bottom indicator. When/if TLT gets back to previous highs (especially with some sort of gap up/massive volume) that could signal a short term bottom of the market.

 

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4 Responses to “Extreme Reading in Downside Volume”

  1. syd Says:

    Like I posted a while back “SHORT THE GRAINS” and now look to BUY THE STOCK MARKET! Cycle is in!!!

  2. Chris Says:

    Good idea. I can see that the bond short ETF TBT is now at trend line support. So that’s more evidence that for a reversal.

    http://stockcharts.com/h-sc/ui?s=TBT&p=W&b=5&g=0&id=p39271866620

  3. Dave Says:

    So the debt downgrade, economic weakness and European woes just go away??
    Market was unbelievable today!

  4. jeff pierce Says:

    lol Dave. Today was a relief rally…nothing more

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