Blog post: GMI falls to 3; $QQQ reaches oversold levels–will coming bounce hold? Put/Call ratio = .84, not high enough for most turns; T2108 dives

GMI3/6
GMI-23/8
T210821%

I have never? seen the T2108 decline so fast. Only 21% of NYSE stocks closed above their 40 day simple moving averages. Major bottoms occur when T2108 is <10%.

 

5 thoughts on “Blog post: GMI falls to 3; $QQQ reaches oversold levels–will coming bounce hold? Put/Call ratio = .84, not high enough for most turns; T2108 dives”

  1. According to my notes, the T2108 had not dropped below 25 since Sept 25, 2020. It hit 18 on the 24th and a follow thru day happened a few days later on Sept 30 but only with the DJIA. it is interesting that the major indexes held up for so long while the number of stocks holding up had been declining. Perhaps the AAPLs and MSFTs and GOOGs have been holding up the indexes?

  2. History indicates that if the Put/Call ratio climbs to about 1.15, a market bottom is near by. It was only .84, today it is back to .62 (Tuesday after hours).

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