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Is the bouncing cat dead?

Started by diogenes227 , Oct 17 2018 08:44 PM

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9 replies to this topic

#1 diogenes227

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Posted 17 October 2018 - 08:44 PM

From the link:

Despite these last three days, the overall market hasn’t been able as yet to turn the all-important long-term measure breadth (the NYSI, the McClellan Summation Index) up, and today its short-term component (the NYMO) clicked down.

How many times have we see that before — the market pops out of a deep drop and the NYMO turns down in negative territory.

Dead cat? In addition the SPY ends today in a dreaded doji (see the chart below). Dead cat? Sure looks like it. If so, the market’s current recovery will roll over in short order…probably tomorrow. Maybe Friday (or maybe Friday too).

DEAD CAT BOUNCE?

"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."

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#2 fib_1618

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Posted 18 October 2018 - 07:42 AM

More in the category of a "reflex" than what would be a "dead cat" bounce, but your message is generally the same near term.

Fib

Better to ignore me than abhor me.

“Wise men don't need advice. Fools won't take it” - Benjamin Franklin

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Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.

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#3 K Wave

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Posted 18 October 2018 - 07:55 AM

Watch NQ 7280 here this AM...

If bulls can hold above that level, then chance for another swing up...

But if it turns into resistance...then likely we go down and take out the bottom of yesterday's Hangin' Man, and probably a whole lot more...

looks like big swing decision about to be made...so should be a decent trade opportunity today...

The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

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#4 dTraderB

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Posted 18 October 2018 - 09:19 AM

It think it's like Schrödinger's Cat, now, but will soon resolve itself

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#5 K Wave

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Posted 18 October 2018 - 10:37 AM

Wheeee....

That one one of the easier trades ever...

Now watch AAPL at 217...if that lets go......

The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

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#6 K Wave

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Posted 18 October 2018 - 11:08 AM

AAPL coming up for the back test of 217....

How it acts here could decide the rest of today...

Fresh lows after this, would likely not be good for bulls..

.

The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

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#7 K Wave

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Posted 18 October 2018 - 12:24 PM

Rutro....

Next target 212 AAPL....if it loses that, air pocket zone...

The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

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#8 diogenes227

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Posted 18 October 2018 - 12:45 PM

Rutro....

Next target 212 AAPL....if it loses that, air pocket zone...

Trader Isaac Newton learns what goes up can also go down:

"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."

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#9 NAV

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Posted 19 October 2018 - 08:55 AM

Rutro....

Next target 212 AAPL....if it loses that, air pocket zone...

Trader Isaac Newton learns what goes up can also go down:

How come, did he then, lose his pants in the south see bubble ?

Edited by NAV, 19 October 2018 - 08:56 AM.

"It's not the knowing that is difficult, but the doing"

https://twitter.com/Trader_NAV

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#10 diogenes227

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Posted 19 October 2018 - 12:52 PM

Rutro....

Next target 212 AAPL....if it loses that, air pocket zone...

Trader Isaac Newton learns what goes up can also go down:

How come, did he then, lose his pants in the south see bubble ?

It's not the knowing that's hard, it's the doing...

"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."

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Back to Fearless Forecasters

Is the bouncing cat dead?

#1 diogenes227

#2 fib_1618

#3 K Wave

#4 dTraderB

#5 K Wave

#6 K Wave

#7 K Wave

#8 diogenes227

#9 NAV

#10 diogenes227

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