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Hi Dave, thanks for the pointer to July, 1996.
I pulled up the charts and found the following 3 divergence days:
July 10, 1996:
DJIA - 5594.40 5628.00 5515.00 5603.60 +21.7 (+0.38%)
NASD - 1153.25 1154.08 1132.63 1141.19 -12.4 (-1.07%)
July 16, 1996:
DJIA - 5368.40 5438.70 5170.10 5358.80 +09.3 (+0.17%)
NASD - 1056.15 1065.33 1008.44 1053.47 -06.7 (-0.63%)
July 24, 1996:
DJIA - 5274.10 5402.00 5244.80 5354.70 +08.1 (+0.15%)
NASD - 1030.50 1049.06 1017.64 1042.37 -06.7 (-0.65%)
I suspect you were refering to July 10th.
Comparing those numbers to right now (if we closed at 12:15EST)
Dec. 15, 1997:
DJIA - 7838.30 xxx xxx 7884.80 +46.5 (+0.59%)
NASD - 1535.96 xxx xxx 1517.76 -18.2 (-1.18%)
So even though the absolute numbers look scarier, on a percentage
basis, we are currently only slightly larger than the divergence on
July 10th, 1996.
So what happened after that day?
The DJIA fell to a low of 5170 and the NASD fell to 1008 both on July
16th. That's a fall of 7.7% for the DJIA and 11.6% for the NASD.
Both put in double bottoms and rallied sharply within a month of their
lows.
Hints of things to come? Interesting none-the-less...
Chip
http://coolhistory.com/ChipsCharts
---Dave Zawicki <JohnZGalt@xxxxxxxxxxxxxxxx> wrote:
>
> > Wow, right now the Dow is +44 (S&P +3) and the NASDAQ is -16
> >
> > This is an amazing divergence - can't remember when I've seen
> > something like this before.
>
> July 1996
>
> ----
> Dave Zawicki
>
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