It’s now been a few days since we hit the lows. With a potential bottom in place IBD followers and some other intermediate-term traders are eagerly awaiting a Follow Through Day (FTD) signal to start putting money to work again. FTD’s get a lot of press but they are largely overrated as a predictive indicator and many reports on them from IBD and others are filled with lore rather than facts. Back in 2008 I did a series on FTD’s. I examined many claims about them and quantified them in detail. Traders who would like to learn more about FTD’s or who would like a refresher may want to check out that series starting with the overview at the link below:

http://quantifiableedges.blogspot.com/2008/07/follow-through-days-quantified.html