NDTW = the percentage of Nasdaq 100 stocks above their 20D Moving Averages
NDFI = " " 50D MAs
NDOH = " " 100D MAs
NDTH = " " 200D MAs
I noticed NDTW was at 1 for the first time since Covid bottom, where it only spent a week bouncing a round down there; but this is closer to the 2008 crash. So I examined that.
When NDTW went under 5% in 2008 for the first time, the index was still 30% from the bottom, a month later. Then it chopped around for 2 months until double bottom. Interesting to note the market capitulated at the beginning of October in 2008.
It seems the bottom will be a long bumpy road, with opportunities both ways. Be nimble and stay frosty!
NDFI = " " 50D MAs
NDOH = " " 100D MAs
NDTH = " " 200D MAs
I noticed NDTW was at 1 for the first time since Covid bottom, where it only spent a week bouncing a round down there; but this is closer to the 2008 crash. So I examined that.
When NDTW went under 5% in 2008 for the first time, the index was still 30% from the bottom, a month later. Then it chopped around for 2 months until double bottom. Interesting to note the market capitulated at the beginning of October in 2008.
It seems the bottom will be a long bumpy road, with opportunities both ways. Be nimble and stay frosty!
Comment:
Tired when I made this... 2 months to first bottom, 2nd bottom 4 months later. So about 2-6 months from the MAs bottoming the first time is what you would call the bottom.