Up 3 weeks in a row, 82% chances higher high ahead the next week, so bulls still have something to hope.
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AAII Bull - AAII Bear, still at the place where it's been the top recently, so not favor bulls.
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“Market timers had been more bullish than at almost any other time since such data began being collected in 2000 … In the past, the stock market has reliably struggled in the wake of bullishness this extreme. [MARK HULBERT] https://www.marketwatch.com/story/stock ... 2020-10-15
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
$ZM, could be a 3 Push Up in the making so a 2 legged pullback might be due. It's in a clear uptrend so the pullback eventually should be bought. viewtopic.php?f=2&t=4263&p=288401#p288401
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Every time a revisit of the previous high there're some chances of double top, the market is at a key point, beware the 1-2-3 Formation Short setup. The method 1 was already triggered. The setup has perhaps only 30% winning rate but the risk reward ratio is very high.
123FormationShortSetup.png (50.75 KiB) Viewed 2450 times
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So far, bears have not been serious enough
They need the kind of volume seen in the red circle.
Bears could get it if the stimulus talks break down again or a tweet … or...
Bulls need to break above the downtrending red-dashed line to circa 3520+ SPX to prove they are worthy...
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
SPY daily. Point and Figure. No man's land. No breakout pattern. But the market has been moving up (Xs), and the trend is up (blue line). There is buying pressure, but as the market neared the top, resistance was too strong. Anybody's game, until the market shows its hand.
Charts posted are not recommendations. They are just a sharing of information.