Loading ...NYSE Tick highest ever this morning–is this like 1982-? A Marty Zweig double barreled buying signal? [aka=Zweig breadth thrust signal.]
Powell’s promise to the American people that there is a “lot more [the Fed] can do”, coupled with his ‘explanation’ that the Fed “prints money digitally”, alongside the news that a tiny coronavirus vaccine trial showed promise, was enough to unleash the biggest buying panic in history this morning, when according to the NYSE TICK index, a record 2,049 stocks saw positive ticks moments after the open, the highest print on record; it was this buying scramble that may have knocked out online retail brokers such as Robin Hood and Etrade in the first hour of trading.
Zweig said a super advance/decline ratio and a super a super bullish FED indicator comprise a double barreled buy signal–one was generated in 1932 and the S&P rose 48.7% in one months time
https://preview.tinyurl.com/y7ft4gst
Zweig article