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10/07/2017 Weekend Update

10/07/2017 Weekend Update

Postby Cobra » Fri Oct 06, 2017 4:11 pm

SPY hasn't touched its weekly ema20 for 47 weeks, tied the record since the year 1996. I think it has good chances to make a new record the next week.

It tells me 2 things:

    Usually after a long time no touch, the very first touch would be bought as people finally can buy at 20 week average price. So bulls should have no worry for now.
    No one can have no touch of moving average forever, so SPY should owe us a pullback.
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Re: 10/07/2017 Weekend Update

Postby Cobra » Fri Oct 06, 2017 4:13 pm

up 4 weeks in a row, the next week has 66% chances to up again.
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Re: 10/07/2017 Weekend Update

Postby Cobra » Fri Oct 06, 2017 4:14 pm

Please don't forget our weekly sentiment poll here: viewtopic.php?f=9&t=2638

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Re: 10/07/2017 Weekend Update

Postby Cobra » Fri Oct 06, 2017 4:17 pm

No stock picks for the next week. here's the latest strong stocks count:
viewtopic.php?f=10&t=2640

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Re: 10/07/2017 Weekend Update

Postby superxy » Fri Oct 06, 2017 11:05 pm

Cobra wrote:SPY hasn't touched its weekly ema20 for 47 weeks, tied the record since the year 1996. I think it has good chances to make a new record the next week.

It tells me 2 things:

    Usually after a long time no touch, the very first touch would be bought as people finally can buy at 20 week average price. So bulls should have no worry for now.
    No one can have no touch of moving average forever, so SPY should owe us a pullback.


seems almost touched?
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Re: 10/07/2017 Weekend Update

Postby Cobra » Sat Oct 07, 2017 11:30 pm

superxy wrote:
Cobra wrote:SPY hasn't touched its weekly ema20 for 47 weeks, tied the record since the year 1996. I think it has good chances to make a new record the next week.

It tells me 2 things:

    Usually after a long time no touch, the very first touch would be bought as people finally can buy at 20 week average price. So bulls should have no worry for now.
    No one can have no touch of moving average forever, so SPY should owe us a pullback.


seems almost touched?


Almost, a few weeks ago but still missed.

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Re: 10/07/2017 Weekend Update

Postby flrtrader » Sun Oct 08, 2017 12:07 pm

Very interesting reading and TA... Made alot of money following this guys TA this year. Been ignoring the market and zooming into single stock signals.

http://publizr.com/surinotes/chart-patt ... 9-2017?#/0
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