15 min
20 days
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BOTTOM PANEL: IWM (cyan) weakest here; leading down
TOP PANEL: GDX (brown) needs some cooperation from the short dollar UDN if it wants to stay above that bottom.
(ignore vertical lines)
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
NY advancing stocks = 1.3 x declining stocks (down from 5x this morn)
NY advancing volume = 1.2 x declining volume
NY declining stocks = 0.73 x advancing stocks
NY declining volume = 0.76 x advancing volume
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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(this is just for fun, as it can change in a hot minute)
U can see how weak this bounce is (example is IWM) by looking at the momentum …. See how strong and quick the bounce usually is, and how weak this one is (see green solid blocks on STO)
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Just a thought to add to my earlier post. Something I have mentioned before.
There is a whole bunch of potentially trapped supply (about 3 months of trade) above the August low.
While some of it has bled out with the dips we have had, there has been a forced liquidation or capitulation.
There may never be, but there may be as the potential energy is there if it can be released.
So, while we have seen support (formerly resistance) around 2120, it is now fair to anticipate some resistance (formerly support) around 2150.
Additionally, if yesterday's low were to be broken, we could see a flush of those trapped longs.
Janet is about to flap her mouth and may make everything better and blow this idea out of the water.
We have OPEX too.
So, not a prediction, it is just something I keep in mind as some context for the trade we are seeing.
We shall see.