Looking at the IWM chart, it finally managed to achieve a bullish cup formation back on Jan 13 by about 30 cents.....so now it appears we have to endure the rest of the market's medicine for the small stocks. A right shoulder pull back that's been full speed ahead so far this week. Today it couldn't even stay above the 200 day MA by the close. Alot of crap stocks that can't trend even on a good day. 2000 stocks that all have a lot of support at zero. So it goes.....
Russell
Started by
LMF
, Feb 26 2020 05:49 PM
2 replies to this topic
#2
Darris
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Posted 26 February 2020 - 05:59 PM
It is starting to look like the wash out limit down Monday morning has to set up to get all the discount in. Starting to feel like that week in August 2015 leading to the weak Friday close and limit gap down Monday morning to seal the bottom for a while. Naz indexes have that day of rest continuation bar look. SPX did until the last 10-15 minutes before the close. Goes up seeming forever, and then the inevitable elevator drop down market.
#3
LMF
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Posted 26 February 2020 - 11:39 PM
This economy is steaming along just fine.....otherwise the LEI chart put out by the Conference board wouldnt look so bullish for the markets. Just one of many indicators. Palladium the ultimate industrial metal trading at ATHs for the last 6 months.....no way that happens if things are so bad. I like the Bradley chart that shows a peak on August 19.....
