Intraday Update
By
Rennie on Friday, May 29th, 2009 at 2:54 pm
Couple of negative developments on this quiet Friday… 20-day highs are running back over 1,000 after coming in below 850 on Thursday. As noted Tuesday, this has been a good indication of short-term overbought conditions in recent times. Also, note that the NASDAQ/NYSE Volume Ratio is holding above 2.0 heading into the final hour of trading. It’s bound to come in from those levels, but as long as it remains above 1.75 it would have negative implications for next week. The table below lists the last thirty times that the ND/NY Volume Ratio initially closed over 1.75 (meaning it was below 1.75 the day before). Note that…
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Intraday Update
By Rennie on Friday, May 29th, 2009 at 2:54 pmCouple of negative developments on this quiet Friday… 20-day highs are running back over 1,000 after coming in below 850 on Thursday. As noted Tuesday, this has been a good indication of short-term overbought conditions in recent times. Also, note that the NASDAQ/NYSE Volume Ratio is holding above 2.0 heading into the final hour of trading. It’s bound to come in from those levels, but as long as it remains above 1.75 it would have negative implications for next week. The table below lists the last thirty times that the ND/NY Volume Ratio initially closed over 1.75 (meaning it was below 1.75 the day before). Note that…
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