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That has the potential to be one hell of a black bar.
Does anyone else feel like its October of 2007 again. the hard drop then the straight run right back up, except in 2007 it was 2 months down, 3 months up. This time we did it all in 4 weeks
Daily SPY now has arrived at the upper bollinger band. Usually that brings the "powerful" part of the rally to an end, and we enter a slower ascent or a grinding trading range for weeks, sometimes months. Other times we actually get a spike top, altho that is less frequent. Most tops round off into a boring dome.
bearish as of SPY 406 on 2/17/23
currently: end bearish as of SPY 406 on 3/6/23
All time high SPY 9/19/14 at 201.90
Today’s intraday high so far 201.82
If that is correct, [edit: it is correct] there should be more stops just above that 201.90 high that haven’t been squeezed yet
Last edited by Al_Dente on Fri Oct 31, 2014 11:49 am, edited 1 time in total.
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.