Record NYSE D/A Ratio
Record NYSE D/A Ratio
You guys have to see this:
A NYSE Declining/Advancing ratio of 47:1 is simply unheard of and we didn’t even come close to this during the entire 2008 bear market crash. We are talking serious selling exhaustion here. Do you really want to be short or long this tape? Do you really think it’s worth holding short or predicting a floor here?
Whatever snapback is on the horizon – this week, next week – who knows – but I expect it to be a squeeze of mammoth proportions. But – before we go long we need to collect some evidence first and thus far this could easily play out for a few more days. Be patient – and whatever you do, if you play options be mindful of vega.
Cheers,
Mole
