Thursday, August 4, 2011

Dax 3.8.2011

Individual stocks 1-year performance seems controversial.

Accumulation/Distribution based on the individual stock performance of underlying index suggests very oversold condition.

Another volume based index, Arms Index a.k.a. TRIN, also reveals very oversold condition.

Over 80% of dax companies are trading near their 20-day lows. This suggests good opportinity to short term rebound, or that the short term bottom is near.