90/90 Day?

B

Babak

Was today a Lowry's 90/90 day? It looks to me like it was.

Issues: NYSE Nasdaq
Advancing 597 597
Declining 2,661 2,407
Unchanged 123 133
Total: 3,381 3,137

Issues at:
52-Week High 36 43
52-Week Low 126 77

Volume:
Advancing 177,693,000 294,851,000
Declining 1,722,375,000 1,504,237,000
Unchanged 6,218,000 157,346,000
Total: 1,906,286,000 1,956,434,000
 
a 90% downside day occurs when both the declining volume and the number of downside points equal or exceed 90% of the total volume and the total number of points, respectively. A 90% downside day sometimes signals the beginning of a panic decline, or if the market is already oversold, further evidence of a very oversold market. Generally, a significant market bottom is preceded by two or more number of 90% downside days. A single 90% downside day like today may create an oversold situation in the short-term - one which would signal a temporary bottom - but with a number of intermediate term indicators (see below charts) still neutral or in an overbought situation, the chances of a bottom here is very low. In fact, today's 90% downside day could be a signal for further panic declines down the road.



So it could go up or down?
 
Quote from Babak:

According to Lowry's a 90/90 down day must be followed by a 90/90 up day to signal a new trend up.
More...

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Thanks including the definition of 90/90;
other signals of new trend up= higher closes, higher closes.

Other signals of new trend up;
most of stocks in sectors closing higher,
higher highs, higher lows.......

Flip it for downtrends;
& probably a good idea for some players to believe.
''must be followed by 90/90 up day to signal a new trend up'',
especially in a bull market:cool:
 
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