99 replies to this topic

[redfoliage2]

NYSE breadth momentum still going up today.  SPX is in consolidation pending for a trigger to breakout .........................

Edited by redfoliage2, 28 March 2023 - 10:01 AM.

[redfoliage2]

Update:

The McClellan Summation Index has sent a signal indicating US stock market is likely at an IT bottom here.  I'm looking for a confirmation by the end of the week  .....................

Edited by redfoliage2, 28 March 2023 - 12:44 PM.

[redfoliage2]

Update:

The McClellan Summation Index has sent a signal indicating US stock market is likely at an IT bottom here.  I'm looking for a confirmation by the end of the week  .....................

I meant by late Friday

[redfoliage2]

Since this signal is not confirmed yet I'd be nimble for now ................................

[redfoliage2]

SPX made an impressive breakout of the 50 dma 4014, that is both ST/IT bullish ......................

[redfoliage2]

So before the EOQ window dressing is done by the end of the week dips are likely to be bought ........................

[redfoliage2]

It's likely this may lead into an IT rally, I will update late Friday on this as more data coming in  .............................. 

Edited by redfoliage2, 30 March 2023 - 09:09 AM.

[redfoliage2]

As Mr. Powell admitted yesterday that the Fed rate hike is about done we should see more EOQ buying late today and tomorrow ..................................

 

https://www.bloomber...ce=uverify wall

[redfoliage2]

Currently the market is extremely over bought.  The opening gap may get filled before anything ......................

[linrom1]

Money leaving MSFT and NVDA.