A few days ago it was as low as -379
The SP Adv vs Decl ($ADSPD) numbers has now surpassed 334 . Just hit 357 which for me is very bullish
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Posted 29 June 2018 - 10:41 PM
Posted 01 July 2018 - 08:26 PM
Still have an overhead gap on the QQQ chart that will need to be overcome......but I don't know. Mid term election years are the definition of total crap during the summer months, going into the fall where the real bottom usually occurs. When ever it goes up, don't worry, it's going to give it all back and then some. The NDX stat that bothers me the most......every mid term election year going back to 1986, NDX has spent time below the 200 day MA at some point during the summer before the November election. Not yet this year.....
Posted 01 July 2018 - 10:22 PM
I consider healthy up move in A/D numbers not producing a proportional swing to be a negative.
I have viewed many charts (overlaid with my indicators) to find ones that show impulses that usually would precede a good move up.
To my surprise I found very few and at the same time some key ETF's are showing impulses pointing lower,except for the inverse ones like VXX pointing higher so I have changed my weekly vote to bearish for the week.
A day or two of indecision or slight up would be the best prelude for a move down.
I do not have targets, have to see how it unfolds. Will have stops under recent low to be triggered into shorts.
What I am attempting to describe is the change of forces trying to move prices back up to turning down.
In short I do not see context for a good move up right from here.
If the market did not loose ground next week it will be the bulls' turn again.
Posted 02 July 2018 - 02:41 AM
Great call Da_Chief, so far, thank you
Posted 02 July 2018 - 07:42 AM
Posted 02 July 2018 - 07:59 AM
One more dip pre-market or at the open then there should be a solid rally of more than just a few days.