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Posted On: 01/02/2023 1:53:13 PM
Post# of 32991
This looks like an interesting article. Sounds a little familiar to me.
https://www.news-press.com/story/money/2016/0.../83394312/
7 signs stocks are being quietly snapped up
1. The violence of the decline subsides. The intensity and rate of decline lessens. Jan. 20 was the low point of the waterfall.
2. A sharp rally follows, either quickly or after a period of quiet trading. This rally is caused by nimble traders, and the covering of short positions. This time it was only eight days long.
3. A second downward thrust stops above or at the previous low. This was the first eight trading days in February, and created another round of fear.
4. Activity during this second drop subsides, and often the market will trade sideways for a few days or weeks. The February 2016 sequence quickly ended and stocks rebounded in eight days.
5. Rallies and declines must hold above the previous two low points if a higher market is to follow. So far, March and April 2016 trading has followed the rules.
6 and 7. We look for quiet trading during declines and loud rallies. Then the charts should show higher peaks and higher bottoms.
https://www.news-press.com/story/money/2016/0.../83394312/
7 signs stocks are being quietly snapped up
1. The violence of the decline subsides. The intensity and rate of decline lessens. Jan. 20 was the low point of the waterfall.
2. A sharp rally follows, either quickly or after a period of quiet trading. This rally is caused by nimble traders, and the covering of short positions. This time it was only eight days long.
3. A second downward thrust stops above or at the previous low. This was the first eight trading days in February, and created another round of fear.
4. Activity during this second drop subsides, and often the market will trade sideways for a few days or weeks. The February 2016 sequence quickly ended and stocks rebounded in eight days.
5. Rallies and declines must hold above the previous two low points if a higher market is to follow. So far, March and April 2016 trading has followed the rules.
6 and 7. We look for quiet trading during declines and loud rallies. Then the charts should show higher peaks and higher bottoms.
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