02/27/2021 Weekend Update

[Cobra]

Down 2 weeks in a row, the next week up 64% of the time. For any single down week the next week up 60% of the time. For any single up week the next week up 53% of the time. So a down week has a little bull edges toward the next week.

[Cobra]

$XLF weekly looks like is due for a pullback, while $TLT is due for a rebound.

[Al_Dente]

"SEC Suspends Trading in Multiple Issuers Based on Social Media and Trading Activity"
https://www.sec.gov/news/press-release/2021-35

[Cobra]

$AAII Bulls - $AAII Bears shows retailers remain optimistic.

[Cobra]

Al Brooks gave it 60% chances the 10% pullback has started. I agree with his logic about this time finally bears were able to make two consecutive not bad looking bear bars. I'm just not sure about 60% chances because it's always bears who are disappointed in the end.

[Al_Dente]

Note how SPY behaves when the HIGH LOW indicator slips into the red.
Longs aren’t safe until USHL regains the green (above 0).

https://stockcharts.com/public/1684859

[marcueus3]

[Al_Dente]

S&P-500 Heat Map, for the MONTH

[jademann]

If you REALLY want to know what is happening check out the Yearly and monthly charts on Yahoo.
Every single year touches the yearly 5 ema at some point, which is currently at SPY 325..

Also same number as Marceues above..

[Al_Dente]

SentimenTrader calls these “the four horsemen of a recovery”
"Energy, Financials, Industrials, and Materials - are leading the charge. At least 30% of member stocks in all four of those sectors reached a new high on Wednesday. That's among the most impressive breakouts in 70 years for sectors geared to an economic recovery."

[jademann]

Some people ask when TLT will bottom. How about here, 125 to 130 in 18 to 24 months or so..

[jademann]

Top Cryptos signaling:

Capture.PNG (8.63 KiB) Viewed 1949 times

[BullBear52x]

From "It is what it is department"Most standard TA will agree that we are at a turning point, the relief rally pull back has started, the question from here is how deep the pull back will be? the simple answer is pay attention to HLOC bar, price pays,it will be a good start. as long as we have LL on the daily without a positive reversal bar the down side is not in.

A breakout is failing, the %B is telling this time is different. from looking at this chart the historic resistance of 3600 should provide a good support this time arround.

Below chart with Fib measurement, there is some support here in side this balanced area, for a strong bulls, it should not trade under 3694

For now, Momentum is down, trend change is confirmed.

Short term trend is down, rip will be sold under 377/90 MA (5DMA), same playbook, keep it simple. Peace!

[BullBear52x]

Some people ask when TLT will bottom. How about here, 125 to 130 in 18 to 24 months or so..

Swing is on the buy on TLT, down trend is no more atm.

Weekly historical resistance now is a support with very oversold RSI.

[JFR]

SPY weekly. Down 2.48% since last week. Two key support levels shown. Pullback in a trend. We will see if the buyers show up, as they have been doing.