Originally Posted by
shawn_molodow
Hi Jerry and Mike,
For a B8 signal, my notes show: "B8 = Market makes a new high (a higher than the last marked high on MS chart) (per M Scott 10/24/11)" and "Note, the way MarketSmith and WONDA marks significant highs and lows on charts is that the labeled date must be the highest high or low within 9 days looking both forwards and backwards. This relates to buy signal B8 and sell Signal S12. (per M Scott 10/24/11)"
Could you guys comment on whether B8 applies for Jan 3?
Also, I find Jan 3 interesting b/c 20D MF shows -17.5% Day MF Strength and the daily highs on IWM and $COMPQ came at 9:40 AM or so; I believe essentially the big gap up was sold into. This has the feel of a reversal and perhaps some form of subtle stalling.
I reviewed M Scott's notes on stalling, and I gather in the event of an up day of > +0.4%, and the Market Exposure would never claim stalling on such a day no matter how extreme the reversal (I would not call Jan 3 an extreme reversal).
Thanks in advance,
Shawn