Market Bottom a la Mamis

Quote from Susannah:

Did they have any other tip-offs? It seems the NHNL line's slope might be one.

I've been looking at the 2002 bottoms on the charts, the mad rush and exuberance over bargains was apparent after the bottom was hit, the gaps on SPY continually in the days afterward especially seemed telling.

I think maybe the NHNL's slope is telling the same story.
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Time tell lots.

Thanksgiving week =up;
present week,higher lows but not higher hii in SPY.
Volume is small, but logical, not many want full size size buy,
in SPY,
in bear market,LOL.

Mr Mamis dosnt care for 50 day moving average;
too whippy if i remember his book.[When to sell] So he is a longer term investor, not a medium or short term investor.

Not likely that is ''the bottom'', in a bear market;
but monthly retest [bear rally]of highs maybe overdue
:cool:
 
Quote from PetaDollar:

Mamis discusses and shows examples of using data (as opposed to indicators which are functions of price, such as the MACD) to identify when a trend is probably near the end.
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Kudos for an excellent thread.
One of the few on ET worthy of any credit.

Given that Tuesday's SPX low was re-tested today ( 818.41 ) and held with nearly a 60 handle rally into the close, I would bet dollars to donuts that the HIGH/LOW indicator IMPROVED a bit today.

Just take a look at a bunch of individual stock charts. Many did not take out the lows of Nov. 20th.

Keep all of us posted!

:cool:
 
Quote from PetaDollar:

p.s. one thing to notice about the previous 2 charts: scale on the left. Currently we have been pegged below 0.10 for some time. In 2003 0.10 was just touched a few times. I can't help but look at that and think the market is in far deeper trouble this time around.
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This statement I agree with.....2009 will be a full on A$$ kicker for LONG and wrong equities holders......sorry to say! :eek:
 
Let's look at correlations to see if my system has any merit...

XLB, 23.58, 0.75
XLE, 46.12, 0.20
XLF, 13.67, 0.91
XLI, 23.25, 0.84
XLK, 15.73, 0.85
XLP, 23.84, 0.55
XLU, 28.93, 0.51
XLV, 25.39, 0.70
XLY, 21.88, 0.92

6/9 sectors are looking a little heavy on the top-side...
 
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