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Calendar-wise : Nearing a top here


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#11 redfoliage2

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Posted 03 February 2021 - 11:39 AM

The recent wave of dip buying pushed the market up 150 SPX points in just 3 days, but the problem is the Internals not confirming.  ST it's in an overbought state.  Let's see if this is leading to the seasonal top  ...................


Edited by redfoliage2, 03 February 2021 - 11:43 AM.


#12 GDA

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Posted 03 February 2021 - 01:59 PM

Not sure what market internal you're looking at. Daily market breadth is turning up from oversold levels and, at this rate, needs at least two more days to get overbought.



#13 redfoliage2

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Posted 03 February 2021 - 02:17 PM

Not sure what market internal you're looking at. Daily market breadth is turning up from oversold levels and, at this rate, needs at least two more days to get overbought.

 

Look at the A/D line on SPX daily:

http://schrts.co/vSwFDmiy

 

Posted Today, 11:39 AM

The recent wave of dip buying pushed the market up 150 SPX points in just 3 days, but the problem is the Internals not confirming.  ST it's in an overbought state.  Let's see if this is leading to the seasonal top  ...................


Edited by redfoliage2, Today, 11:43 AM.


Edited by redfoliage2, 03 February 2021 - 02:23 PM.


#14 pdx5

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Posted 03 February 2021 - 04:01 PM

Roger, also make note to yourself, that there is no market history under a pandemic which caused so many shut businesses in recent decades.


"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#15 GDA

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Posted 04 February 2021 - 12:33 PM

A/D is only one piece of the puzzle.



#16 slupert

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Posted 04 February 2021 - 05:29 PM

   Rodger might have something about tomorrow being a top, he's made some really good calls in the past. Maybe 3900 then what? valuation sure is stretched. I think the vaccine rollout is what's going to take us down, I think those numbers could come down. also the "quality" of the recovery just has too high expectations. I was watching TV the other day and that "King of Queens " guy that works for Ritholz. Said something about being out at concerts in May and June and a few other things like that. aI think we will be wearing masks until Christmas, but will it be sporadic, regionalized or what? (JMHO)



#17 Rogerdodger

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Posted 04 February 2021 - 10:25 PM

 he's made some really good calls in the past

 I really have no idea about the market except that the obvious is often too obvious. ;-)



#18 pdx5

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Posted 05 February 2021 - 06:47 PM

Calling tops in a roaring bull market..is risky. By top I mean at least a 5%+ drop from the top.

Anything less than 5% is just normal fluctuations.


"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule