ok, indeed as I suspected, the rebound is weak. I'm neutral now, need see more bars before making my next call. Cannot blame my feelings, I didn't trust the down target and indeed it wasn't reached and I didn't trust the up target, and indeed it failed.
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.
Al_Dente wrote:PS: BARON: When was the last time u saw a decent rally where spy languished around VWAP, and where the declining issues were sticky >2700 (with only 45 unchanged = undecided)?
Granted, things can change very fast, and everything is oversold, and vix is leading bull spy, but glance at our laggard Musketeers. The weak get weaker; ever heard of China? http://stockcharts.com/h-sc/ui?s=SPY&p= ... listNum=15
No one on the board here suggest it's bottom, counter trend, YES, Trend follow, NO. VWAP is as good as any moving average they all got their day but not everyday.
My comments are for entertainment/educational purpose only. NOT a trade advice.
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.
the bigger picture, we need a strong rebound, otherwise, it's still a consolidation before the next step down.
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.