Tuesday, August 28, 2007

"Jaw dropping

Those are the words Don Worden used to describe the carnage in the stock market today.
Worden.com are the vendors of a terrific and economical product for technical analysis of stocks. I use it and recommend the product. don Worden went on to say about Tuesday's action:
Industry groups gave us 239 declines versus zero advances. Major Industrial sectors gave us 31 declines versus no advances. Four of the 17 Breadth Groupings had no advances. One of those was the Dow. Another was the Bellweather Grouping. HalfPoint Movers had 112 winners and 2594 losers. The Nasdaq 100 had seven winners. The SP-500 had 14 winners.
All of the 17 Breadth Groupings were beyond Decisively negative. They were jaw-droppingly negative.

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