Folks are probably figuring this is a small wave ii low, with well defined risk if you want to go long. If it goes below Friday's low after this dramatic open and retrace, the downward move would probably accelerate. The last two MFI's on the hourly are pink(fake outs), indicating volume is up on this down move--may indicate a breakdown or a U-turn.
#11
Posted 26 March 2018 - 10:43 AM
#12
Posted 26 March 2018 - 02:59 PM
Semi, you so over react, the futures are hardly moving at all...to be down a few and up a few is actually a "QUIET" night so far. PPT working = hardly. They will have to work when we flush below the Feb low of 2532.
Yep, you're probably right...
SPX up 72 handles today...
That couldn't have been them...
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#13
Posted 26 March 2018 - 03:14 PM
If you look closely, there's been a lot of selectivity in the buying today.
Some of the Drillers, GE, and consumer staples stocks such as CL & CLX could not make it green even on such a magnificent up-day.
On the other hand, there are about 25 stocks, most of them in the NDX, that the institutions love to death and cannot get enough of. These include NFLX, ADBE, NOW, WDAY, NOW, INTC, MSFT, AMZN, NVDA, etc. Most stocks in this group were up > 4 %, some up even over 7 % and nearly back to NEW HIGHS.
The question then is: Will these over-loved, high growth stocks with fantastic earnings and high P/E multiples levitate the indices back to new highs ? Or will the stocks that unloved by the institutions (or at least indifferent to them), drag the indices downward. I dare say the Dow Jones Composite of 65 stocks has a lot of these unloved stocks.
#14
Posted 26 March 2018 - 09:03 PM
"Yep, you're probably right...
SPX up 72 handles today...
That couldn't have been them..."
Right, without taking out the lows no need for PPT and wasting money buying fututes, and when the big techs get rolling, it all takes care of itself. It didn't even test the low, 200d held almost to the tick again.