Cobra's Market View Private Messaging System shows:
Bottomed again? Well, still the same chart I posted in the yesterday’s After Bell Quick Summary.
- There’re 14 cases (dashed red lines) a red day after a Major Distribution Day (which is yesterday).
- 7 out of 14 cases a green day (green arrows) after after the Major Distribution Day (which is today), so it’s not very rare to see a green day today.
- 3 out of 14 cases the market was bottomed. Or if you want better figures then, 3 out of 7 cases (when the market rebounded on the 3rd day), the market was bottomed.
So bottomed? Tomorrow is the key although right now odds still a little bit favor bears.