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Rampaging Bulls, can the bears stop them? YES


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#11 dTraderB

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Posted 08 November 2018 - 08:32 AM

You must watch this EVERY DAY!!  I will pay for an intraday chart of this....

 

McClellanOsc_412.gif

 

NYSE: 11/07/2018   Issues   Volume(000s) Advances 2281   2899402 Declines 733   902297 Difference 1548   1997105 10% Trend 238 . 989 325188 5% Trend 26 . 330 73028 McC OSC 212 . 659 252161 PRIOR McC OSC 147 . 301 167659 SUMM Index -650 . 630 -1539167 PRIOR SUMM Index -863 . 289 -1791327 A-D for OSC UNCH 452   577 * A-D for OSC=0 -3802   -4466 * *million shares   DJIA Close 26180.30 PRIOR Close 25635.01 DJIA CHG 545.29 DOW Price OSC -143.88 PRIOR DOW Price OSC -194.72 Price OSC UNCH'D 25296.55
 

 

https://www.mcoscill...t_breadth_data/

 

AND these:

 

https://www.nasdaq.c...ons/isee-index/

 

https://money.cnn.co...fear-and-greed/

 

BOOKMARK all of them!



#12 dTraderB

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Posted 08 November 2018 - 08:34 AM

Is the Oscillator in post above too extended upwards?



#13 12SPX

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Posted 08 November 2018 - 08:53 AM

Is the Oscillator in post above too extended upwards?

I think short short term were gonna digest these gains, next couple days then maybe we'll see that test your talking about.  Think we'll be quiet until the Fed will be interesting what happens afterwards!! 



#14 fib_1618

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Posted 08 November 2018 - 11:35 AM

Is the Oscillator in post above too extended upwards?

 

This is your textbook "breadth thrust" and it should carry prices higher into the beginning of next year.

 

Also note that we are now in the 3rd year of the Presidential Cycle...which is the most bullish of the four.

 

Add to this that we had very little broad based selling into the end October price lows, along with double bull divergence, and this *could* help push prices significantly higher into next spring.

 

Fib

 

Edit: forgot to mention that the 9 month cycle low is also in play here as it bottomed a week before it was due...but within the 2 week window.


Edited by fib_1618, 08 November 2018 - 11:38 AM.

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#15 dTraderB

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Posted 08 November 2018 - 12:23 PM

Need some more big-range bars, market is too range-bound & choppy, hopefully after lunch we will get a breakout - up or down.



#16 fib_1618

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Posted 08 November 2018 - 12:28 PM

Need some more big-range bars, market is too range-bound & choppy, hopefully after lunch we will get a breakout - up or down.

 

Better to look for a pause to refresh due to the deeply "overbought" readings...a moment to look around and see if there are any further takers or not.

 

Supply and demand...this is the backbone of all things market.

 

Fib


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#17 MDurkin

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Posted 08 November 2018 - 02:34 PM

 

Need some more big-range bars, market is too range-bound & choppy, hopefully after lunch we will get a breakout - up or down.

 

Better to look for a pause to refresh due to the deeply "overbought" readings...a moment to look around and see if there are any further takers or not.

 

Supply and demand...this is the backbone of all things market.

 

Fib

 

What're your thoughts on interest rates Dave? 30 year going to...



#18 dTraderB

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Posted 08 November 2018 - 02:35 PM

Good moves, post-Fed 

 

Trading only NQ this afternoon. 

 

As for my QQQ puts, just watching them tack on a few dollars profit, maybe after 3pm will consider taking something off the table

 

At this time, I still lean towards the bullish scenario on a ST basis but any daily close below SPX 2790 will force me to reconsider. 



#19 andr99

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Posted 08 November 2018 - 03:13 PM

 

Is the Oscillator in post above too extended upwards?

 

This is your textbook "breadth thrust" and it should carry prices higher into the beginning of next year.

 

Also note that we are now in the 3rd year of the Presidential Cycle...which is the most bullish of the four.

 

Add to this that we had very little broad based selling into the end October price lows, along with double bull divergence, and this *could* help push prices significantly higher into next spring.

 

Fib

 

Edit: forgot to mention that the 9 month cycle low is also in play here as it bottomed a week before it was due...but within the 2 week window.

 

 

The picture seems very correct to me...we are seeing the same path developing here in old Europe. I can't notice anything wrong in this picture and that's why  I entered long here in Europe a few days ago.


Edited by andr99, 08 November 2018 - 03:13 PM.

forever and only a V-E-N-E-T-K-E-N.....though partly langbardic


#20 fib_1618

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Posted 08 November 2018 - 03:33 PM

 

 

Need some more big-range bars, market is too range-bound & choppy, hopefully after lunch we will get a breakout - up or down.

 

Better to look for a pause to refresh due to the deeply "overbought" readings...a moment to look around and see if there are any further takers or not.

 

Supply and demand...this is the backbone of all things market.

 

What're your thoughts on interest rates Dave? 30 year going to...

 

On a strictly technical basis, cumulative money flow has been moving out of notes and bonds, in earnest, since the 1st week of September.

 

Chart wise, the yield on the 10 year note broke above historic resistance at 3.11%, and we have seen the obligatory snapback to or toward this same level during the "crash like" sequence of October.

 

So, I guess, I'll answer your question with this partial observation from the Weekly Breadth Data review of September 14th:

 

"With the yield of the 10 year note now challenging important resistance at the 3.00% level, this breakdown in the longer term pattern of this A/D line now suggests that this same area of yield resistance will be taken out sooner than later leaving only the May highs at 3.11% as the last remaining level of protest before a major move higher toward the highs seen back in 2011 at 3.80% takes place."

 

With all things being equal, that would mean a yield of around 4.60% in the 30 year bond.

 

Fib


Edited by fib_1618, 08 November 2018 - 03:38 PM.

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