The advance/decline for Friday came in at 4,258. At the September low reversal day that number was 2,855. At the August low reversal day that number came in at 4,061. So Friday was real.
The last date that bear 4,258 was January 2,2013 when the number came in at 4,413. So the best number in over 3 years.
In fact, going back to the beginning of July of 2007 when I began tracking the advance/decline line Friday’s number was the 13th best number. We needed to see that big a number to confirm a potential bottom not necesarily the bottom is in.
We should rally for a couple weeks if Friday was not a dream and then we need to see what happens from there. More on this as the weekend progresses.
I am off the Wisconsin Dells which is where the “Water Park” began. Rates are $399 and up, so much for the concept of a recession. The whole place is booked. Clearly, all the Illinois bastards are not as broke as you might think.If you enjoy the content at iBankCoin, please follow us on Twitter