5 replies to this topic

[andr99]

61% of the losses of almost three months and a half. How they trap the more people they can. A slow downtrending move that seems to never end and suddenly........up up up and in eight bars 

bears are destroyed. How many times have we seen that ?  

Edited by andr99, 07 November 2023 - 01:49 PM.

[andr99]

......8 bars to recover 61% of the ground lost in 70 bars........bad sign for bears as it says which move is impulsive and which is not.  

Edited by andr99, 08 November 2023 - 06:01 AM.

[OEXCHAOS]

We're headed higher, as you note. Near term, however, I have an options oscillator Sell, and breadth yesterday was sucky. So, pull-back is due.

 

I think that break of the long yield means that we have a good bond rally still coming and that will support the stock market into the end of the year.

[andr99]

BEAUTIFULLLLLLLLLLLLLLLLL..............I trade stocks in the LT and I like this scenario, which by the way is equal to mine. Short term, ok there will be a dip, but 

what matters to me is that the LT bullish trend is well established 

[12SPX]

No offence but a 7 day rally of almost 7% isn't actually healthy unless your coming off a major bottom and although I have said there will likely be a rally into year end, this move screams of unhealthiness and could turn right back down again now I fear.  I wanted to see a continued healthy grind up to make it last but now I'm getting worried.  This move is equal to an additional 40% plus add to the market by year end at this pace lol!!  Will be interesting to see how it plays out but I still say the odds of new highs next year are incredibly low.  Lets hope for a little -1.5-2% dip to get the market healthy again...

[andr99]

I don't know 12SPX, you might be completely right, but this is how I consider this thing :  when after a vertical drop you have a vertical rise that recovers a substantial part of the losses,

well that is short covering i.e. bear market rally, instead when you have three months of slow downtrending market action which in no way is a vertical drop and then you have a fast rise 

recovering 61% of the losses, to me that might be an action meant to leave no chances to escape to those bears who have been trapped inside, those who have entered short at the

bottom or near to it. Just my opinion eh, not pretending to be right.   

Edited by andr99, 08 November 2023 - 02:10 PM.