Just for fun, I'll put the S&P 500 numbers at the bottom. See if you can guess what happened with today's numbers. If you'll recall, yesterday KJ (Knee-Jerk) threw the kitchen sink in on the down side and we had a large up day. Today, the Dow had a pretty good up day, but the S&P 500 was only up a small amount.
Things were much less positive in the Nasdaq 100 today. This week's positive/negative numbers:
Monday, 8/8: 121.12/50.67 = 2.39
Tuesday, 8/9: 143.14/53.19 = 2.69
Wednesday, 8/10: 132.41/51.93 = 2.55
Thursday, 8/11: 135.57/51.24 = 2.65
Today, Friday, 8/12: 117.36/55.54 = 2.11
So a number of traders took some profits after Thursday's big up day. But 2.11 is still a historically large positive number from what I've seen over the years. It's not large compared to what I've seen this past year. But before this past year, I used to figure anything over 2.00 was looking like some sort of top. So there could be some rallying to go in the next few market days, but my blog still says we will turn back down and go lower. I still think that we have to have more money on the negative side then the positive side before this move down will be even temporarily over.
The answer for what KJ did was a bit of a shock to me. He kept the large amount in on the negative side, and yet we didn't have a large up day, except the Dow had a fairly good day. I won't bother with the numbers. They were basically the same as Thursday's numbers. I could easily be misreading things here, but to me this says we have a market that really, really wants to go down, otherwise we would have had a much larger up day. We'll see what next week brings. Will he switch to the up side which could lead to a large down day, or leave it all on the down side and let us move up some more?
Rob
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