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Overbought


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#1 CLK

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Posted 04 May 2018 - 04:33 PM

Nobody is talking about the down channel, all we got was a test of the upper limit and note the back test

MACD after the crossover, I usually fade those.

 

 

 

 

 



#2 da_cheif

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Posted 04 May 2018 - 06:13 PM

got real over bot just days after the 09 low   then what?



#3 CLK

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Posted 06 May 2018 - 06:34 PM

This might be the top.

 

 

https://invst.ly/7dh1h



#4 CLK

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Posted 06 May 2018 - 06:38 PM

Laser.

 

 

https://invst.ly/7dh2d



#5 Chilidawgz

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Posted 06 May 2018 - 06:47 PM

"Nobody is talking about the down channel, all we got was a test of the upper limit and note the back test

MACD after the crossover, I usually fade those."

 

My long term model is bullish, intermediate model is bullish and short term just turned bullish. Monday will be the tell. If the bears can't get control...watch the sky.  :)


Anything can happen...what's happening now?
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All stocks (ETF's) are BAD...unless they go up - William O'Neil
When The Time Comes To Buy or Sell, You Won't Want To - Walter Deemer
 
 

#6 CLK

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Posted 06 May 2018 - 07:26 PM

Since they couldn't break the channel, most likely will retest the 200 at 2630 next. Gap up gets sold.



#7 Rich C

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Posted 07 May 2018 - 02:06 PM

CLK, that is the formation that has kept me from buying in, until the market can decisively get above the channel you show in the original post.  Clearly we are in a correction, and the rules are different in corrective mode vs. bull mode.


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#8 CLK

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Posted 07 May 2018 - 04:04 PM

I don't like these kind of markets after a big rally, first you short then they keep creeping higher, force you to

cover then reverse long, then they pull back. I will accept defeat, capitulated near the top and went long, will hold and maybe

not make another trade this week, wait for Renko system to stop me out for a 50% loss. Good luck out there.



#9 Waver

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Posted 07 May 2018 - 04:19 PM

Chilidawgz - ST still bullish after today's close?



#10 Chilidawgz

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Posted 07 May 2018 - 07:22 PM

Chilidawgz - ST still bullish after today's close?

Yes, still looks "bullish". However neither bulls or bears have conviction currently. But I have to give the bulls the nod as it is still a bull market. That said I didn't say I am committed, I am on the sideline as I don't see the risk potential going long or short.

 

QQQ's and IWM look to be making a double top which they need to break upward and thru. 

 

Cumulative AD for Nas and big board are still running positive.


Edited by Chilidawgz, 07 May 2018 - 07:27 PM.

Anything can happen...what's happening now?
No one can forecast the future. No one.
 
All stocks (ETF's) are BAD...unless they go up - William O'Neil
When The Time Comes To Buy or Sell, You Won't Want To - Walter Deemer