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10/21/2017 Weekend Update

Posted: Fri Oct 20, 2017 4:18 pm
by Cobra
SPY hasn't touched its weekly ema20 for 49 weeks, this is a new record. the previous record was 47 weeks. I think it has good chances to make another 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: 10/21/2017 Weekend Update

Posted: Fri Oct 20, 2017 4:19 pm
by Cobra
statistics about SPY up 6 weeks in a row

Re: 10/21/2017 Weekend Update

Posted: Fri Oct 20, 2017 4:20 pm
by Cobra
statistics about SPY up 6 days in a row.

Re: 10/21/2017 Weekend Update

Posted: Fri Oct 20, 2017 4:23 pm
by Cobra
No stock picks for the next week. Here's the latest strong stocks count:
viewtopic.php?f=10&t=2654

Re: 10/21/2017 Weekend Update

Posted: Fri Oct 20, 2017 9:16 pm
by Al_Dente
Note the "Abandoned Baby" on QQQ
http://thepatternsite.com/AbandonBabyBull.html

Re: 10/21/2017 Weekend Update

Posted: Sat Oct 21, 2017 1:21 pm
by Al_Dente
Equal Weighted SPX confirms bull [Headline Charts]
https://1.bp.blogspot.com/-T6yF-VZGZt8/ ... 1%2BAM.png

Re: 10/21/2017 Weekend Update

Posted: Sat Oct 21, 2017 2:36 pm
by Al_Dente
Friday:
“Bearish Hanging Man” on SPY (but not on SPX) needs confirmation
1021hang man.png.png