I've been watching these volume numbers closely for five or six years now, kind of noticing them for a few years before that. And I do believe that on Friday the Nasdaq 100 numbers got up to the highest number ever when you divide the positive volume by the negative volume. The positive/negative numbers on Friday were: 219.66/52.33. When you divide that out, you get 4.20. This is the most positive number I've ever seen, meaning there are more traders in on the positive side versus traders on the negative side than there has ever been in the last five or six years. This is why we are reaching a major top. It appears that this top is going to roughly coincide with the election. So no matter who wins in the election, when we start down, people will look around and see the top was around the same time as the election and say we're going down because of the election. Democrats will blame the Republicans, Republicans will blame the Democrats, Tea Partiers will blame Democrats and Republicans. I hope I'm showing that the true reason we are about to head down is because everyone has piled on on the positive side.
The Nasdaq 100 numbers for the past seven trading days:
2.59, 3.78, 3.44, 4.02, 3.94, 3.94, 4.20
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