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The Bear Market Resumed?


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#41 redfoliage2

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Posted 21 March 2023 - 03:24 PM

SPX closed the day above 4000 in a technically bullish configuration, pending to break out .....................


Edited by redfoliage2, 21 March 2023 - 03:26 PM.


#42 redfoliage2

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Posted 22 March 2023 - 10:43 AM

Both NDX and SPX are in technically bullish conditions pending to break out.   But let's see what Powell will say at the press conference scheduled at 2:30 pm today ..............................



#43 redfoliage2

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Posted 22 March 2023 - 01:40 PM

Update: 

Breadth indicates buying momentum weak, I'm afraid the pending breakout may not go thru.......................


Edited by redfoliage2, 22 March 2023 - 01:42 PM.


#44 redfoliage2

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Posted 22 March 2023 - 01:51 PM

Update: 

Breadth indicates buying momentum weak, I'm afraid the pending breakout may not go thru.......................

It just did, but the breadth remains very weak.  This may turn into a fake out.   I'm out ..................


Edited by redfoliage2, 22 March 2023 - 02:00 PM.


#45 redfoliage2

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Posted 22 March 2023 - 06:48 PM

A classic fake-out today.  SPX failed at the breakout and dropped back into the recent range, likely heading to the recent low at 3850 ........................... 



#46 redfoliage2

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Posted 23 March 2023 - 10:25 AM

Back into day trading - selling bounces and buying dips - currently it's very risky for longer term commitment . ....................... 


Edited by redfoliage2, 23 March 2023 - 10:30 AM.


#47 redfoliage2

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Posted 24 March 2023 - 11:45 AM

ST it's directionless, IT likely to see SPX below 3800...........................


Edited by redfoliage2, 24 March 2023 - 11:47 AM.


#48 redfoliage2

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Posted 27 March 2023 - 11:55 AM

Today we are seeing money moving out of bonds into DJ and SPX.   I'd expect an EOQ windows dressing this week, and SPX likely higher for the week ......................


Edited by redfoliage2, 27 March 2023 - 12:00 PM.


#49 redfoliage2

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Posted 27 March 2023 - 01:48 PM

According to my intra-day breadth data NYMO is likely to end the day in positive today.  If so, it means a potential trend change and it's the first time since early Feb this year ................... ......................................



#50 redfoliage2

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Posted 27 March 2023 - 07:19 PM

By the close today NYMO went positive since early February:

https://www.mcoscill...t_breadth_data/