4 replies to this topic

[nimblebear]

Looks interesting. Fractal appearing to be in play...so far.

[denleo]

You have got to be kidding me. Fractal analysis is a good approach, but the market is going straight up, so don't stand in its way. Denleo

[dcengr]

Fractals should be confirmed by other data, including sentiment/breadth. There's nothing that says sentiment is too bullish, and nothing that says breadth has a problem. Hence I don't believe the recent fractal that was passed around will pass. I will say RSI2 is at its highs, so its stalling a bit, because RSI2 is price which is somewhat equated to sentiment. But I wouldnt' be surprised to see higher prices in the days ahead, if only going up slightly every day, then a small drop, then resumption. There was a TON of bearishness built up on that decline... sentiment is improving, but still going to take time. Watch for when it goes down on good news. Thats probably when sentiment has ripened.

[Cirrus]

Nearly 3-1 postitive breadth at 'halftime'. It's a sign the institutions are at work IMO. I posted on this before but it's extremely rare to see considerable weakness materialize the latter half of the session. Typically breadth this strong leads to more strength.

[skott]

watch out for Hindenburg Omens that may appear soon............. Robert Mchugh