well, guess that's it for today. a boring day. the short-term direction is not clear but just as I said a moment ago, it looks like a Rectangle in the forming on SPY 15 min chart, so odds are higher for an upside breakout. thank you guys, I'll see you tomorrow.
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Cobra wrote:well, guess that's it for today. a boring day. the short-term direction is not clear but just as I said a moment ago, it looks like a Rectangle in the forming on SPY 15 min chart, so odds are higher for an upside breakout. thank you guys, I'll see you tomorrow.
Cobra, Doji on the daily chart has a higher odd of reversal than the rectangle on 15 min chart.
You mentioned that in small body or Doji, you will take some profite. Do you suggest that now?
you'll see Cobra Impulse system asks to tighten the stop loss today if I still remember my algo.
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Cobra wrote:well, guess that's it for today. a boring day. the short-term direction is not clear but just as I said a moment ago, it looks like a Rectangle in the forming on SPY 15 min chart, so odds are higher for an upside breakout. thank you guys, I'll see you tomorrow.
Cobra, Doji on the daily chart has a higher odd of reversal than the rectangle on 15 min chart.
I won't say that. for now the direction is not clear but one thing is for sure: it's really very rare the market topped right here so a pullback if any usually should be a buy.
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Something interesting about today’s market:
While healthcare was a mediocre performer, several biotech stocks had a nice show. They are part of my high beta TOP BIOTECH list: VRX, VRUS, REGN, GENE…
However this is not necessarily great news, because high performer biotechs are often launching the “last hurray” of a rally, expressed in an aggressive exhaustion bar.
One of them even displayed “3 black crows”, detected by my vigilant BOT….Guess who?!