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Sunday, September 16, 2012

Correction to 9/15/12 update

The update posted yesterday contained reference to the Vindicator Buy/Sell and an apparent flat line in that index.  The more I thought about that the more I questioned the reading.  Today I investigated the components of the Buy/Sell index and discovered that last Tuesday (9/11 !!) either TOS or the NYSE altered the format in which trading volumes are reported.  They moved the decimal point to the left one position in the data so that the reported volumes appear to be 1/10th of what they appeared before the change.  Totally screws up the chart - very frustrating.  Below is the recent chart:


Here's the chart zoomed in to the four days from Tuesday through Friday:


As can be seen the Buy line is in fact not flat lining but rather exhibiting a pattern which would be expected - i.e. ramping up in conjunction with the rally.  So the comments about distribution and flat lining made in yesterday's post were based on faulty data and are completely in error.  My apologies.

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