Read this article in conjunction with my most recent two postings. Cheers!
Nine to one
A rare and bullish technical event occurred Wednesday
By Mark Hulbert, MarketWatch
Last Update: 5:43 PM ET Mar 21, 2007
ANNANDALE, Va. (MarketWatch) — The most bullish thing a market can do, as the saying goes on Wall Street, is to go up.
It is even more bullish for it to go up as it did on Wednesday.
That’s because Wednesday’s stock market action was so strong that it triggered a rare technical signal that, far more often than not in the past, has heralded higher stock prices over the subsequent several months.
The particular technical signal is referred to as a “Nine To One Up Day.” It refers to…