Dax 4.8.2011

Extreme condition


27 of 30 dax stocks are trading their 20-day lows. We haven't seen greater amount than this, so we expect a pullback of some kind.

Accumulation/Distribution reveals very very oversold condition. In history, we have seen quite strong short term rebound from such state.

Our own dax indicator also reveals very high oversold condition which we have seen previously during 2008 bear market. We could see +5-10% rebound during next 2 months.

Trin SMA(10) reveals interestingly weakening down-trend.

16 of 30 stocks are trading better than the underlying index. We are expecting a tradable bottom soon.

Cumulated volume index hasn't made new lows even the price index has.

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.