Helene Meisler writes a daily technical analysis column and TheStreet Top Stocks. For more information, click here. Meisler spent more than a decade on the sell side as a market technician covering institutional accounts at various investment banks in New York City, including Cowen & Co. and Goldman Sachs. In addition she worked at Cargill in Minneapolis where she managed equity money for three years. She received her bachelor's degree in business from Pace University.
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For example, the S&P is up 20 points but net breadth is negative by about 1,200 issues.
If we plunge first then maybe sentiment would shift dramatically, although not enough to change the moving averages of the various put/call ratios.
The market remains mixed.
I have been asked if the massive swings in the market on a day-to-day basis have been seen before outside of a bear market.
If you were bearish on Tuesday and bullish on Thursday, then I think you need to sit back and consider the indicators.
A high TRIN, which is short for Trading Index, means there was a lot of selling.