SHORT TERM:
A couple days ago, only 15% of the S&P-500 stocks were above their 5-day-moving-average. You can see that was a bounce zone
Last night 84% were above their 5-day-moving-average. You can see that is a toppish zone
[EOD as of yesterday’s close]
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Al_Dente wrote:Backtesting the breakout
I think we could dip as low as 210.70 and the bull would still be fine…
UPDATE
I keep moving the dashed-uptrend line to accommodate the “fanning out”
210.70 is near, but the real breakdown would be a break of the thick-green uptrend line
I think that will hold
It’s still a little flag until proven otherwise
Actually the higher low (HL) is down there at 208.35 and ANYTHING ABOVE THAT WILL BE A HIGHER LOW
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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