Member
Posted 16 January 2018 - 03:38 PM
The 2800 price objective given by the SPX McClellan Summation Index back in October was tagged this morning and the market promptly reversed.
Since the market did not hold the 3:1 breadth plurality it had this morning, no new upside price targets are given at this time by this indicator.
Could change tomorrow, and we will likely move higher still on momentum alone, but that's all we have to work with for now.
Fib
http://www.traders-t...-crap/?p=771704
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
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Member
Posted 16 January 2018 - 05:17 PM
"...no new upside price targets are given at this time by by this indicator."
Hmm, could it be those words could hang here for a long time? Given how bullish EVERYONE IS, could it be Coyote just ran off the cliff and is just hanging there in mid-air?
SPX tags 2800, Dow tags 26,000...nice round numbers to fall away from.
And how about that bitcoin, at least one bubble everyone could see would pop.
Hmm...
Edited by diogenes227, 16 January 2018 - 05:18 PM.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
Member
Posted 16 January 2018 - 05:23 PM
The 2800 price objective given by the SPX McClellan Summation Index back in October was tagged this morning and the market promptly reversed.
Since the market did not hold the 3:1 breadth plurality it had this morning, no new upside price targets are given at this time by this indicator.
Could change tomorrow, and we will likely move higher still on momentum alone, but that's all we have to work with for now.
Fib
http://www.traders-t...-crap/?p=771704
Member
Member
Posted 16 January 2018 - 08:48 PM
Thanks for the update Fib.
Member
Posted 16 January 2018 - 09:41 PM
The 2800 price objective given by the SPX McClellan Summation Index back in October was tagged this morning and the market promptly reversed.
Since the market did not hold the 3:1 breadth plurality it had this morning, no new upside price targets are given at this time by this indicator.
Could change tomorrow, and we will likely move higher still on momentum alone, but that's all we have to work with for now.
Fib
Nice work !
Member
Posted 17 January 2018 - 09:03 AM
Below is the "close up" of the same Junk Bond A/D line that was provided this past weekend in the Weekly Breadth Data review. It would take a break below the November lows in the A/D line to trigger bear divergence, while a break below the early July lows to confirm a downtrend in force.
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
Technical Watch Subscriptions
Member
Posted 25 January 2018 - 03:25 PM
The 2800 price objective given by the SPX McClellan Summation Index back in October was tagged this morning and the market promptly reversed.
Since the market did not hold the 3:1 breadth plurality it had this morning, no new upside price targets are given at this time by this indicator.
Could change tomorrow, and we will likely move higher still on momentum alone, but that's all we have to work with for now.
Fib
Impressive Fib....
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