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02/23/2019 Weekend Update

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Cobra
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Joined: Sat Feb 12, 2011 10:29 pm

02/23/2019 Weekend Update

Post by Cobra »

Up 4 weeks in a row means 80% chances higher high and 68% chances another up week the next week.
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BullBear52x
Posts: 29516
Joined: Tue Feb 22, 2011 3:47 pm

Re: 02/23/2019 Weekend Update

Post by BullBear52x »

From It is what it is department : As usual, trend following has nothing to worry, HH and HL trend is still well and intact.
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And..... if you are a die hard top or bottom shoppers then this could give us something that we can go by as a short term outlook, The discussion today is let see what gap can tell us, if you understand why gap and go or gap and no go really mean, we can use them as a temperature sensor of the market to plan our trade on next day, in this case is for Monday, with the weak outlook in mind (see chart), futures market before the open should be clear if this last gap and no go will give us a weak follow through or not. Peace!
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My comments are for entertainment/educational purpose only. NOT a trade advice.
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Al_Dente
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Joined: Thu Jul 21, 2011 2:29 pm

Re: 02/23/2019 Weekend Update

Post by Al_Dente »

“The weekly … Emini …chart had bull bodies for each of the prior 9 weeks. This is unusual and therefore unsustainable and climactic. I could find only one instance in the past 20 years of a streak of more than 9 consecutive bull trend bars on the weekly chart… Each streak of 8 or 9 consecutive bull trend bars led to at least 2 – 3 weeks of sideways to down trading.
Furthermore, Carter Worth on CNBC looked back at streaks of 8 bull bars with a 10% rally over the 120 year history of the Dow Jones Industrial Average, like what we have today. This has happened 15 times. Ten of the 15 times led to the S&P being lower one and two months later. The average decline was more than 2%.
However, there is no sign of a top. The odds therefore continue to favor at least slightly higher prices.”
[Al Brooks, 2/23/19]
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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Al_Dente
Posts: 28535
Joined: Thu Jul 21, 2011 2:29 pm

Re: 02/23/2019 Weekend Update

Post by Al_Dente »

NOT MARKET RELATED
THE ACADEMY AWARDS:
Don’t miss the opening because QUEEN, the original old guys, are reportedly opening the show, WITH Adam Lambert.

ACADEMY AWARDS: Advertisers pay $2.6 million for a 30 second ad (compared to $5.3 million for a Super Bowl ad).

How much does it cost the Academy to put on the Oscars?
https://www.cheatsheet.com/entertainmen ... cars.html/
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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