8 replies to this topic

[diogenes227]

FROM THE LINK:

 

 

With the NYSI declining, one can only assume swing traders will be looking for short entries, options traders playing puts predominantly (see the post below), and long-term investors should tighten stops to their individual risk tolerance or just hold their breath and hope not to die.

 

Of note: NFLX after the bell reported earnings, a shortfall in expected subscriptions, and is getting clobbered in overnight trading. That may set a tone for trading tomorrow. Intriguing how often news comes along from somewhere to agree with the NYMO/NYSI breadth indicators.

 

FOR THE STORY AND THE FEAR-AND-GREED CHART

 

 

 

 

 

[OEXCHAOS]

ITBM gave a Sell. My summation still hasn't confirmed.

 

Cumulative A/D still positive.

 

M

[tsharp]

My momentum work is still short, but there a chance a reversal back to long is not far off... twt.

 

[tsharp]

Yep... there she goes:

 

[OEXCHAOS]

Nice.

[diogenes227]

FROM THE LINK:

 

 

With the NYSI declining, one can only assume swing traders will be looking for short entries, options traders playing puts predominantly (see the post below), and long-term investors should tighten stops to their individual risk tolerance or just hold their breath and hope not to die.

 

Of note: NFLX after the bell reported earnings, a shortfall in expected subscriptions, and is getting clobbered in overnight trading. That may set a tone for trading tomorrow. Intriguing how often news comes along from somewhere to agree with the NYMO/NYSI breadth indicators.

 

FOR THE STORY AND THE FEAR-AND-GREED CHART

 

 

 

 

 

 

From the link:

 

 

Nothing much more to say. The market will go down until it doesn’t, and granted, that could be even as early as tomorrow. The VIX remains below 15, which is a bullish level indicating this is likely a pullback and not a serious correction.

 

The open matters:

 

[tsharp]

Yep... there she goes:

 

 

And there she keeps going...

 

[Chilidawgz]

[fib_1618]

Everyone should remember that the McClellan Summation Index only measures the distance between two exponential moving averages, in this case, a 19 day EMA (10% Trend) and a 39 day EMA (5% Trend) of the cumulative advance/decline (breadth) or up/down (volume) lines.

 

The higher or lower this indicator is from its zero line, the greater (or lesser) the distance between the two.

 

So what you're seeing with a cursory view of the MCSUM is both the directional flow of investment capital and its velocity of it either moving in or out of the market.

 

Fib

Edited by fib_1618, 19 July 2019 - 10:27 AM.