75 replies to this topic

[redfoliage2]

https://smarts.thest...l-market-signal

 

Edited by redfoliage2, 16 January 2023 - 01:09 PM.

[redfoliage2]

The Summation index is in a very bullish configuration.  The market should have another 3% to go to the north before a pause ........................

[redfoliage2]

But ST the market is in over-bought conditions and so we should expect some consolidation at this juncture ..........................

Edited by redfoliage2, 17 January 2023 - 09:29 AM.

[12SPX]

Hmmmm sounding like a flip to me so what is up or down,,,,article is to the moon....or could it be.....wait for it....grind grind grind lol!!!

[redfoliage2]

Today the market getting nowhere doing a consolidation, but I see it should resolve higher ...................

Edited by redfoliage2, 17 January 2023 - 03:14 PM.

[redfoliage2]

BTW, the market has formed some very bullish patterns such as inverted H&S pattern on TRAN, DJI and SPX daily charts ...................

Edited by redfoliage2, 17 January 2023 - 03:20 PM.

[redfoliage2]

The market needs a trigger to breakout - let's see if tomorrow's PPI will do it .............................

[redfoliage2]

So, we did get a breakout on the SPX down trend line shortly after the open, but it quickly turned into a fake-out - This does not bode well at all  .........................

Edited by redfoliage2, 18 January 2023 - 11:58 AM.

[redfoliage2]

Now let's see if SPX 3882 immediate support can hold today .....................

[redfoliage2]

With SPX 3882 support held yesterday dip buyers jumped in.  I see the bounce is likely to continue till it hits the resistance at SPX 3970 ........................

Edited by redfoliage2, 20 January 2023 - 02:30 PM.