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Friday, August 11, 2017

Daily update 8/11 By This Measure The Current Stock Market Bubble Is Far Bigger Than The Dotcom Bubble

Test of yesterday's low was successful for today.


Breadth was slightly positive, but down volume was considerably higher then up volume.  New highs were a pitiful 18 while new lows increased again to 152.  At least the market didn't collapse today.


The futures tested below the 200 SMA overnight, but the bulls came out in support.  They were up at the open, but dipped down to test yesterday's low.  After a mid day bounce they dipped back down to the low and held again.  So far so good for the bounce scenario.


The VIX did not close below 15 yet.  The COMPX (+.64%) and a number of other indexes were much stronger then SPX.  That seems to support the bounce scenario.  I guess we will see what happens on Monday.

Interesting chart and read.  By This Measure The Current Stock Market Bubble Is Far Bigger Than The Dotcom Bubble




Have a great weekend.

Bob

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