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This is a follow up to yesterday's post regarding the expected decline in
the markets.
Yesterday I said 50 of the 100 NDX stocks were in a time and price window
for a reversal and could contribute to a sizable decline. Despite the tepid
performance of the NASDAQ yesterday, 22 of those 50 stocks did reverse to
the downside leaving 22 still in the window. These could provide more force
to the downside today.
On the other hand, one of my models of the DJIA turned positive yesterday
after turning negative on 9/7. My total market model is still negative but
nearing a reversal so I don't expect this decline to last past Monday. New
negative impulses could, of course, could change that view.
The market is dynamic so you must roll with it every day.
Jim White
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