possible h3 long because the signal bar got stronger. I've discussed this in the Market Recap.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Good time to be neutral. Pretzel Logic posted this morning in the public area that SPX is at an inflection zone where it could stage one last up move before the dreaded C wave down.
Looks like we are into a support zone.
Still I would think chop around for a bit until everybody has left early then ramp it straight up on thin volume to trigger all those lovely stops above Wednesday's high and declare victory. Well that would be my game plan.
failed h3 long (not enough for mini 1x target). now vol surge, hopefully a rebound here first then we'll see.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Indeed another excellent study by Mr. Hanna.
We should also keep in mind that, independent of this pattern-based study, there is the usual seasonal bullishness of early July.
a double bottom can be a strong trampoline, but not when it’s really a lower low
(the most pronounced lower low is SMH, the gray on the bottom panel)
if you want to be sloppy, let’s call the SPX a sloppy box
it is what it is
i need more “proof”
5min
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
maybe the high speed algos got infected with Stuxnet virus and it keeps changing the speed?
Realistically I would not want to be a broker sitting down with "traditional" clients and having to explain the slow patch their accounts have been in, especially if they peak at a chart before the "big meeting". Say this having had some brief but enlightening conversations with friends that don't usually discuss money with me.
Can't clearly see the resting buy orders under the volume profile, but they are picking up. They need to be if you look at the bid ask delta (bottom box) it is almost back to 0. If they are going to squeeze this into a new weekly high they really need to get going before long.
this line has been the resistance for most of the day. let's see if it can hold another test.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.