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A Breakaway Momentum Signal Triggered


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#1 redfoliage2

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Posted 16 January 2023 - 01:08 PM

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

 


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


#2 redfoliage2

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Posted 16 January 2023 - 06:47 PM

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



#3 redfoliage2

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Posted 17 January 2023 - 09:25 AM

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.


#4 12SPX

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Posted 17 January 2023 - 09:49 AM

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!!!



#5 redfoliage2

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Posted 17 January 2023 - 03:09 PM

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


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


#6 redfoliage2

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Posted 17 January 2023 - 03:17 PM

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.


#7 redfoliage2

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Posted 17 January 2023 - 04:17 PM

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



#8 redfoliage2

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Posted 18 January 2023 - 11:52 AM

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.


#9 redfoliage2

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Posted 19 January 2023 - 09:52 AM

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



#10 redfoliage2

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Posted 20 January 2023 - 02:22 PM

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.