Monday, December 1, 2008
really?
Well maybe it's "attempting" to turn around (see below), but we're down this morning. Although there's no telling how the market will close. Climax Low signals don't have to go up right away. Often the market will retest the low of the signal. But if it penetrates the low without reversing upward then the signal has failed.
According to the work of William O'Neil, a new bull leg will be confirmed by a follow-through day upward after the absolute low has occurred. The follow-through signal is available for plotting and scanning with the Gigascanner. Note that it works best for the overall market indexes (DJIA and NASDAQ) and the largest-volume stocks, but usually doesn't work so well on individual stocks.
According to the work of William O'Neil, a new bull leg will be confirmed by a follow-through day upward after the absolute low has occurred. The follow-through signal is available for plotting and scanning with the Gigascanner. Note that it works best for the overall market indexes (DJIA and NASDAQ) and the largest-volume stocks, but usually doesn't work so well on individual stocks.
// posted by gigascanner @ 10:12 AM 
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