Cobra's Market View

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.

up 4 weeks in a row, the next week has 66% chances to up again.

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

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

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?

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.

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