The more the better

spx_weekly5

Our Follow Through Day (FTD) watch begins Thursday.

At this point we have some degree of comfort that the short-sellers have had time to exit the market.

Any heavy buying from here on out will be considered institutional-grade interest, which is what our beloved FTD’s are meant to signify.

In this volatile market we’d want to see an advance with one of the major indexes of at least 3% or 5%. The more the better.

Such a move should also have heavy buying volume (bigger than the previous trading day) to be considered a viable FTD.

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