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Cycle Trading

Eye Popping BOW

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I was am getting ready to look over some charts in preparation for the Weekend Report. When I spied the BOW on the SPY I had to stop the presses and post a quick update.

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The SPY printed a whopping 1.7 BILLION Buying on Weakness. That is the largest number printed that I have every seen for a Buying on Weakness number. Prior to today the SPY had accumulated a total of 2.785 billion in BOW for this daily cycle. Today’s number was over half of the accumulated total. That brings the new accumulated total to 4.501 Billion.

We will discuss this weekend how stocks are in their timing band for a daily cycle low and what the large BOW number might mean.

4 responses to “Eye Popping BOW”

  1. JR Avatar
    JR

    Let me guess..
    Dow 20,000 here we come while gold gets whacked.

    Reply
  2. kim2523 Avatar
    kim2523

    Isn’t there something about re-balancing the S&P today ? Also wonder how much of that was short covering going into the weekend?

    Reply
    1. JR Avatar
      JR

      Maybe you’re right Kim. Are you near Boston? We could get a drink and talk.
      JR

      Reply
      1. kim2523 Avatar
        kim2523

        I am in Pittsburgh now. Hopefully to be back in Houston and out of this cold by January. Never been to Boston. Are you from there originally? BTW… your tally of SOS numbers the other day was a signal not all was well at the top.

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