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Group:
According to Favors; last week the 10-Day Trading Index rose to its second
highest, most overbought reading of the last 10 years. Can someone please
post the day that occurred?
Based on the history he cites; I went back and noticed that sometimes the
actual price of the S&P 500 bottomed earlier or later than these extreme
readings. In this instance it looks like the market--using that
measurement--will bottom after this extreme reading. During those
occurrences the number of days the market bottomed later than the extreme
TRIN readings were as follows:
10/2/92: 5 days later
4/15/93: 7 days later
7/16/96: 6 days later
9/30/98: 6 days later
3/22/01: 9 days later
Can someone please post the number of days we are into the above
time table? Thanks.
Chas
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