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ST LONG, IT SHORT, bulls have the edge


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#11 da_cheif

da_cheif

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Posted 14 September 2018 - 09:25 PM

TIM ORD is flat.

 

 

The top window is the McClellan oscillator and readings <0 are bearish; today’s close -83.  Next window down is the 3 day average of the TRIN.  Market bottoms form on panic and the TRIN helps to identify those times with readings above 1.50.  When the 3 MA of the TRIN reaches 1.50 and higher the market is usually near a short term low; today’s reading came in at .97 and not showing panic.  Next window down is the 3 day average of the Tick/TRIN ratio.  Readings below -150 on this indicator can be a bullish sign and today’s reading came in at minus 232.74.  Best bullish signals are generated when the 3 MA Trin >1.50 and the 3 MA of the Tick/TRIN ratio <-150 and we don’t have that here.  The bottom window is the 4 MA of the Advancing (blue line) and 4 MA of the Declining (red line).  When blue line is above red line a bullish condition is present; when red is above blue then that is a bearish sign.  Also the market has been down 6 days in a row going into Friday and the market has been lower 10 of 12 times on average of 3% over the next 30 days. Therefore it would make sense if market does bounce to look for a short position.

https://stockcharts....er-12-2018.html

mclellan in april  https://www.marketwa...egun-2018-04-25