Thursday, August 11, 2011
So is this the start of something?
First, what we are looking at - a five day intra-day range of the DJIA divided by the five day average of the close - and the absolute level of the Dow 30 index.
Now, what next? Note the observation of the shorting ban is roughly contemporaneous with the Lehman failure... no claims as to causality, but we may be getting some additional insight into that with the recent moves by several markets within the EU to ban shorting... time will tell.