Here we see Henry Carstens' visualization of the distribution of 250 liquid stocks, based on their trend status. Each vertical line represents a stock, and the y-axis describes the odds of each stock being in a downtrend (red) or uptrend (green).
Note the skew of the distribution toward the red side: many stocks have high odds of registering a downtrend day; few have high odds of being in uptrends.
Over the course of the day, these odds shift as stocks trade within defined ranges vs. outside them. Those shifts constitute an interesting indicator in themselves.
For a look at some of the stocks with high odds of being in downtrends and uptrends, check out the pairs page of the site.
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