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Finally Get That 90-90 Up Day We’ve Been Waiting For at Trader’s Narrative





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Since the first week of the month, I’ve been waiting for a 90-90 up day, as defined by Lowry’s research. If you haven’t, make sure you follow the link to the report for all the details.

It certainly took its sweet time but we finally got it yesterday.

Here are the numbers:

On the NYSE, advancing issues were 84% and on the Nasdaq 74%. Advancing volume came at an eye popping 95% on the NYSE and on the Nasdaq, 89%.

This was even more intriguing because it followed immediately after a day which was its mirror opposite. We may have had a 90-90 down day, followed immediately by a 90-90 up day. Tuesday was a very skewed down day with more than 10 to 1 ratio in downvolume. And yesterday we saw pretty much the exact opposite.

This is very rare having only happened twice before in the past 40 years. But nevertheless, it is still a valid signal and a portent of better days to come.

Here is the chart for the Nasdaq breadth:

NASDAQ advance decline end August 2007

And the NYSE breadth:

NYSE advance decline end August 2007

The market seems to need these extreme up and down days to shake and bake both the longs and the shorts before it sets off on a new trend. I think of it as building up kinetic energy so that both sides will pile on and give the new trend momentum: the longs realizing that they should have bought more and the shorts realizing that they have to cover their positions (by buying).

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6 Responses to “Finally Get That 90-90 Up Day We’ve Been Waiting For”  

  1. 1 Aaron

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    Interesting post. I was just thinking yesterday that it virtually never happens to have that type of action, mirror opposites, in back to back days. I didn’t realize that it was only twice in 40 years. Interesting statistic!

  2. 2 Babak

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    yes, btw, that stat is courtesy of Jason at sentimentrader.com

  3. 3 Keith Shepard

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    Very Interesting indeed. Thanks for the link to Lowry’s research (Box.net). Interesting reading.

  4. 4 scood

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    the signals do seem to be lining up nicely. but why after 30 yrs of buying the dips do i feel like i gotta sell strength. maybe its just the irrational fear that comes with old age. i sure hope your reason is smarter than my gut, cause at the snails pace i go ill never get out in time. however, to hang a little rationality on my caution, theres an awful large lot of wiseguys out there these days following THE SIGNALS. it kinda clutters up the message. and like anything else, its never different till it is. just ask marty zweig and joe granville

  5. 5 PL

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    what’s a 90-90 up day?

  1. 1 More On Lowry’s 90-90 Signal


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