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05/29/2020 Weekend Update

05/29/2020 Weekend Update

Postby Cobra » Fri May 29, 2020 6:30 pm

UP 2 weeks, 77% chances higher high ahead the next week so guess bulls are fine holding positions over the weekend.
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Re: 05/29/2020 Weekend Update

Postby Al_Dente » Fri May 29, 2020 7:33 pm

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Re: 05/29/2020 Weekend Update

Postby te_fern » Sat May 30, 2020 10:53 am

Good morning Pasta Boss. Have you used the alerts section of Stockcharts? I set up the attached alert, but it doesn't seem to work? All of the examples they provide use daily data. I couldn't find anything about whether it will alert me intraday. thanks!
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Re: 05/29/2020 Weekend Update

Postby jademann » Sat May 30, 2020 11:41 am



That would be consistant with the VIX at the moment also.
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Re: 05/29/2020 Weekend Update

Postby te_fern » Sat May 30, 2020 12:40 pm

I asked the question about Stockchart's alerts to Pasta Boss, but anyone can help! Thanks!
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Re: 05/29/2020 Weekend Update

Postby jademann » Sat May 30, 2020 2:22 pm

te_fern wrote:I asked the question about Stockchart's alerts to Pasta Boss, but anyone can help! Thanks!


I dont know. Perhaps its a premium service?
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Re: 05/29/2020 Weekend Update

Postby Al_Dente » Sat May 30, 2020 2:43 pm

te_fern wrote:Good morning Pasta Boss. Have you used the alerts section of Stockcharts? I set up the attached alert, but it doesn't seem to work? All of the examples they provide use daily data. I couldn't find anything about whether it will alert me intraday. thanks!

I don’t use that function, boss
Send an email to stockcharts and ask them for help. Be specific.
They are usually helpful (if you don’t cuss in your email).
Last resort: ask them for the URL of the page that will give you step-by-step instructions.

ELSEWHERE:
First day of June
https://jeffhirsch.tumblr.com/post/6194 ... rading-day
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Re: 05/29/2020 Weekend Update

Postby Al_Dente » Sat May 30, 2020 7:47 pm

A Rising Wedge is bearish
“Rising wedges, especially for downward ...[breakdowns]... are some of the worst performing chart patterns.
Downward ... [breakdowns] ...have unacceptably high failure rates … Also, throwbacks and pullbacks occur 72% of the time.”
http://thepatternsite.com/risewedge.html
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Re: 05/29/2020 Weekend Update

Postby Al_Dente » Sun May 31, 2020 12:43 pm

QQQ on the WEEKLY chart:
Hanging Man
“The hanging man is probably one of the better known candlestick patterns, but it does not work as many expect. Candle theory says it acts as a bearish reversal of the prevailing price trend, but my tests show that it is really a bullish continuation 59% of the time.
Of course, that is what I call "near random." 
http://thepatternsite.com/HangingMan.html

Or is it a Dragonfly Doji
“The dragonfly doji is an interesting name for a candle that is supposed to act as a bullish reversal. It is a reversal candle, but only half the time [50%]. Random…. It represent indecision.”
http://thepatternsite.com/Dragonfly.html
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Re: 05/29/2020 Weekend Update

Postby BullBear52x » Sun May 31, 2020 1:33 pm

From It is what it is department" Market is dangerously overbought. Fearful (VIX >16), liquidity decline (MFI <50) reminded me of February. Key focus in a week to come is MACD Histogram, a lower histogram bar will be a tell that the short term momentum is deteriorated. it can get HH in real time trading but that will only create negative divergence. for members you can refer to Cobra's extreme cases for a pull back in any minute now.
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Short term trend is up, 5 DMA support on Friday save the day, not news. TA here :lol: I am bearish going into next week, but I rather see price actions trade under 5 DMA to say things are taking a turn, bulls bought the last two dips successfully, will see if the next dip there will be a buyers now the money is getting drying out as mentioned above on MFI. Big picture, it is a profit taking zone rather than a new buy entry if not outright shorting. Trade well, Peace!
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Re: 05/29/2020 Weekend Update

Postby BullBear52x » Sun May 31, 2020 1:37 pm

Bonus chart
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Re: 05/29/2020 Weekend Update

Postby BullBear52x » Sun May 31, 2020 1:48 pm

Al_Dente wrote:QQQ on the WEEKLY chart:
Hanging Man
“The hanging man is probably one of the better known candlestick patterns, but it does not work as many expect. Candle theory says it acts as a bearish reversal of the prevailing price trend, but my tests show that it is really a bullish continuation 59% of the time.
Of course, that is what I call "near random." 
http://thepatternsite.com/HangingMan.html

Or is it a Dragonfly Doji
“The dragonfly doji is an interesting name for a candle that is supposed to act as a bullish reversal. It is a reversal candle, but only half the time [50%]. Random…. It represent indecision.”
http://thepatternsite.com/Dragonfly.html

on SPX: Thursday we got evening star, the top 5 most reliable bearish candle pattern with TRIN >1, Friday we got daily LL but the closed not confirmed it. for now it will be a little stress to call it a stick sandwich now but that is the story of a candle stick.
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Weekly leaning bearish or frowny face :( at best.
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Re: 05/29/2020 Weekend Update

Postby jademann » Sun May 31, 2020 1:54 pm

Maybe 3 days more sideways/up and a vix of 25?
http://schrts.co/IMyqqgfS
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Re: 05/29/2020 Weekend Update

Postby Al_Dente » Sun May 31, 2020 4:15 pm

531buybacks.png
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Re: 05/29/2020 Weekend Update

Postby JFR » Sun May 31, 2020 8:23 pm

https://www.marketwatch.com/story/dow-f ... =home-page

Dow futures fall Sunday evening after weekend of violent protests amid coronavirus pandemic


ES 5. Down but climbing back up.


2020-05-31_1721.png
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