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10/21/2017 Weekend Update

PostPosted: 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

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

Re: 10/21/2017 Weekend Update

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

Re: 10/21/2017 Weekend Update

PostPosted: 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

PostPosted: 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

PostPosted: 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

PostPosted: 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