Subject: Re: Extremely simple bottom detector - Minor Bottom
In practice this means a Major Bottom is signaled when a little more than 1/3 of the NYSE issues traded are achieving new lows. This version had the downside of often failing to signal during corrections where panic didn't 'set-in' & so - in good times - went years without signaling a bottom.

Absence of panic does not appear to be a problem at the moment. Using Wall Street Journal Market Diary figures...

https://www.wsj.com/market-dat...

... today was a "major" bottom.

Issues traded 2,856
New Highs 15
New Lows 1042

(15-1042)/2856 = -35.95%

Can't say how this matches up to the SD-based model.

My apologies if I have done the math incorrectly.

Baltassar (who cannot calculate an "extreme" bottom, but expects one nonetheless)