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Re: [RT] A (weak) case for a bounce in NDX/QQQ



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--- In realtraders@xxxx, "Kent Rollins" <kentr@xxxx> wrote:
> Gary
> 
> Do you have New Highs/New Lows?  That can sometimes resolve 
ambiguities.
> 

Hi Kent. The third chart did plot NH/NL, as a 20 dma of NH/(NH+NL). 
Basically, an oscilator that gives New Highs as a percentage of (New 
Highs + New Lows). I felt the indicators were giving an ambiguous 
reading, because they hadn't gone levels low enough to be typical of 
major intermediate bottoms. The other thing taht argues against 
Friday's rally holding is the major opening gap. Generally, gaps get 
filled. Of couse, if the market pulls back, the gap is filled, and 
then stabilizes that would support the bullish case.



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