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Down but not out: Impressive bounce from lows


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#21 K Wave

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Posted 05 October 2018 - 01:57 PM

NYA 13K busted, now a little ramp back up to test from below...if this starts to sell off last hour, could be ugly into Monday...



#22 redfoliage2

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Posted 05 October 2018 - 02:04 PM

NYA 13K busted, now a little ramp back up to test from below...if this starts to sell off last hour, could be ugly into Monday...

what's the significance of  NYA 13K?  I don't see it.

Shorts better cover at this point, there should be a good bounce next week................


Edited by redfoliage2, 05 October 2018 - 02:11 PM.


#23 K Wave

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Posted 05 October 2018 - 03:11 PM

 

NYA 13K busted, now a little ramp back up to test from below...if this starts to sell off last hour, could be ugly into Monday...

what's the significance of  NYA 13K?  I don't see it.

Shorts better cover at this point, there should be a good bounce next week................

 

It is the breakout/fakeout pivot of the entire rally up off the April low.

 

If you don't see all the work done right around 13K, including the gap above that level for the final run up, then we must have different eyesight...

 

A break away from 13K to the downside starts Wave 3 down in IMO...

 

At this juncture, I think the failure to hold above it today at the close is potentially ominous for Monday....

 

If we gap and go above it on Monday, then bulls may have still have some kick left....


Edited by K Wave, 05 October 2018 - 03:12 PM.


#24 redfoliage2

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Posted 05 October 2018 - 03:19 PM

 

 

NYA 13K busted, now a little ramp back up to test from below...if this starts to sell off last hour, could be ugly into Monday...

what's the significance of  NYA 13K?  I don't see it.

Shorts better cover at this point, there should be a good bounce next week................

 

It is the breakout/fakeout pivot of the entire rally up off the April low.

 

If you don't see all the work done right around 13K, including the gap above that level for the final run up, then we must have different eyesight...

 

A break away from 13K to the downside starts Wave 3 down in IMO...

 

At this juncture, I think the failure to hold above it today at the close is potentially ominous for Monday....

 

If we gap and go above it on Monday, then bulls may have still have some kick left....

 

Okay, let's see what will happen on Monday.  One thing may put some pressure on US market when Chinese markets re-open Monday after one week Holidays........................



#25 K Wave

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Posted 05 October 2018 - 03:20 PM

AMZN also closed to below the mid-september pivot area...after making a lower high above 2K on the last push....not to mention the weekly bearish engulfing

 

If the bulls don't make immediate stick save, could get real ugly on that one dead ahead....momo falling fast and RSI finally back under 50....

 

It is from this configuration the crash type action happens...we will see next week what happens with AMZN