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The Hidden Power Of Back To Back Extreme Up Days
http://www.tradersnarrative.com/ the-hidden-power-of-back-to-back-extreme-up-days...
In mentioning a few reasons why we were seeing an intermediate bottom, I wrote last week, after Tuesday’s 90-90 day (March 12th, 2008): The best scenario for the bulls would be another extremely strong day which would be as or even more lopsided than yesterday’s. If we get that within a reasonable time, like a week or two, the chances of a solid bottom increases exponentially. Today the market gave us that second nine to one up day. On the NYSE 88% of traded securities advanced vs. 10% that declined. On the Nasdaq, advancing volume was almost 92% and the index itself jumped +4.2%.
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