06/08/2010 After Bell Quick Summary


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.

  1. There’re 14 cases (dashed red lines) a red day after a Major Distribution Day (which is yesterday).
  2. 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. 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.

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