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08/10/2019 Weekend Update

08/10/2019 Weekend Update

Postby Cobra » Fri Aug 09, 2019 4:31 pm

Down 2 weeks in a row means 63% chances up the next week.
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Re: 08/10/2019 Weekend Update

Postby BullBear52x » Sat Aug 10, 2019 1:23 pm

From It is what it is department" Fearful market, Bulls are still in the woods. shorter term momentum were improving but not good enough. key internals to recognize are $VIX above 16, Negative NYMO, and TRIN >1. These are the thing that keeping the bulls a sleepless night.
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Friday action was disappointed at the closed. MACD, B% and RSI are clear, there are improvement but not good enough, bulls were stalled. sideways to down at best under center line. Last May comes to mind, except Volume profile shows value along this level, down side is limited also.
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What bulls need to prove in a coming week? a push higher above last Thursday' HOD will get the buying spree to continue, a trade lower will intensify the selling. we will know this before Monday's open if buying or selling to continue. clear line in the sand for Monday, Bulls got momentum but only price pays, the Hourly sell must fail or bears will be laughing all the way to bank this week. keep it simple. Peace!
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My comments are for entertainment/educational purpose only. NOT a trade advice.
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Re: 08/10/2019 Weekend Update

Postby merryme » Sat Aug 10, 2019 6:39 pm

Long term looks like down to me.
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Re: 08/10/2019 Weekend Update

Postby Al_Dente » Sun Aug 11, 2019 2:39 pm

SPY plus a few groups historically considered LEADERS:
Everyone here just bounced back up to the declining 20dma, and failed near there.
I’d like to see a more robust test of the June low (at least a second leg down), sooner rather than later.
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811leaders.png
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Re: 08/10/2019 Weekend Update

Postby Trades with cats » Sun Aug 11, 2019 3:01 pm

Aug 11 2019.png

In case you missed this on twitter. As per Pasta Boss request for a better test of the lows Coolbiz is right there with you."SPX has higher probability now to have another leg down below 2822.12 from here OR slightly higher. Ongoing correction in still the Bull Trend until 2728.81 is taken out. Wave Fractals are nicely sub-dividing."

He is far from the only public voice calling this a tepid bounce at best. Nice by the dip chart from Bank of America re-posted at the evil site this weekend. Of course the whole thing depends on what the PBoC does in a couple of hours as well as what the Red Army does with Hong Kong and let us not forget the twitterer in chief.
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Re: 08/10/2019 Weekend Update

Postby Al_Dente » Sun Aug 11, 2019 3:45 pm

COT as of August 6, 2019 [per Hedgopia]
811 cot.png.png
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