The SP600 Index appeared to Follow Through on Tuesday 7/22, But IBD did not concur since the more popular indexes failed to make the 1.5%+ gains necessary, only the small cap indexes sp600 and Russell2000 were able to. Though it appears to meet all the IBD and my own definitions of a FT day. The VIX/VXN reached to 30/33 level in the the days prior coinciding near a bottom and making a large fall(8%) on the FT day itself, the II survey showed bears at 49%(extreme pessimism)
Tuesday, July 22, 2008
Unofficial SP600 Follow Through
The SP600 Index appeared to Follow Through on Tuesday 7/22, But IBD did not concur since the more popular indexes failed to make the 1.5%+ gains necessary, only the small cap indexes sp600 and Russell2000 were able to. Though it appears to meet all the IBD and my own definitions of a FT day. The VIX/VXN reached to 30/33 level in the the days prior coinciding near a bottom and making a large fall(8%) on the FT day itself, the II survey showed bears at 49%(extreme pessimism)
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