Following the $NAMO buy signal, QQQ hit new highs today:
This signal is really only a way to measure a decent amount of selling then the beginning of a bounce. Unfortunately I do not have the raw data to run the stats. See the charts page for the current picture.
The $NAMO signal, and similar ones such as breadth thrusts (see Quantifiable Edges), should be more reliable when combined with seasonality and recession tracking. Seasonality is the subject of the next few posts.