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26 Of Last 88 Trading Days Have Been 90% Days (Either Up Or Down) Mish Shedlock

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http://globaleconomicanalysis.blogspot.com/2010/08/26-of-last-88-trading-days-have-been-90.html

Here is an interesting snip from August 31 Market Commentary by Art Cashin for UBS. Sorry, no link.

Monday’s market evaporated nearly all the gains from Friday’s rally. Despite lighter volume, it was a 90% down day. That means the bears got a lopsided advantage in negative breadth and negative volume. In Friday’s rally, the bulls had had a similar 90% advantage. Robert McHugh of Main Line Investors says 26 of the last 88 trading days have been 90% days – one way or another. Any wonder the public is wary.

Are these 90% Days a Good Thing?

While the big boys push the market around, small investors have thrown in the towel and are not coming back.

Market volume now consists of black boxes pushing all stocks one way or the other on 30% of the days. Is this a good thing? For who? Investors or Goldman Sachs?

Holding the Line

Today, the 1040 level on the S&P held for about the 8th time on "fabulous" news consumer confidence rose to 53. Bear in mind number in the 70's are typical of recession lows.

How long the 1040 level can hold is a mystery, but each bounce seems to be weaker and weaker.

Is this due to the computers trading?

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Can the computers play tick tack toe?

yes, and nowadays they converge on the fact that no-one should win much quicker than in some dodgy 80s film.....

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  • 246 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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