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10/07/2017 Weekend Update
Posted: Fri Oct 06, 2017 4:11 pm
by Cobra
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.
Re: 10/07/2017 Weekend Update
Posted: Fri Oct 06, 2017 4:13 pm
by Cobra
up 4 weeks in a row, the next week has 66% chances to up again.
Re: 10/07/2017 Weekend Update
Posted: Fri Oct 06, 2017 4:14 pm
by Cobra
Please don't forget our weekly sentiment poll here:
viewtopic.php?f=9&t=2638
Re: 10/07/2017 Weekend Update
Posted: Fri Oct 06, 2017 4:17 pm
by Cobra
No stock picks for the next week. here's the latest strong stocks count:
viewtopic.php?f=10&t=2640
Re: 10/07/2017 Weekend Update
Posted: Fri Oct 06, 2017 11:05 pm
by superxy
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?
Re: 10/07/2017 Weekend Update
Posted: Sat Oct 07, 2017 11:30 pm
by Cobra
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.
Re: 10/07/2017 Weekend Update
Posted: Sun Oct 08, 2017 12:07 pm
by flrtrader
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