Internal Strength Diverging After Excessive Bullish Sentiment
Swings from excessive bullish and bearish sentiment have been a good contrarian market indicator for the past 6 years. Every time the indexes of stocks above or below 200-days Average reached an extreme of 90-100 percent a correction in DOW industrial was close.
Instances where the index started falling, diverging away from the DOW index( indicating internal strength is weakening) were bearish signals, as at least a hefty correction followed.
Instances where the index started falling, diverging away from the DOW index( indicating internal strength is weakening) were bearish signals, as at least a hefty correction followed.
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