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I checked back with some colleagues, and while I am awaiting for final
confirmation from Paul Desmond of Lowry's Reports, who did the research,
other members of the MTA confirmed that:
(1) 90% up days are of little significance unless they follow multiple 90%
down days
(2) The 90% factor is not only for volume, but also points (lost or gained),
though volume more often than not suffices
(3) Desmond feels that the NASDAQ probably needs to be something like 92%
(more than 11:1) and that the studies were
only for the NYSE. They are still working on parameters for NASDAQ.
---
Steven W. Poser, President
Poser Global Market Strategies Inc.
http://www.poserglobal.com
swp@xxxxxxxxxxxxxxx
Tel: 201-995-0845
Fax: 201-995-0846
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