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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.
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.
SPX tempeted to short here again. .. horizontal resistance 60m.. need to see how this hourly candle plays out.. lunch time drift up.. .. the usual theme lately.. punch down.. drift up.. punch down..
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Participation (as of yesterday’s close):
Percent of Stocks Above 20ma (gray) = SPX and SML are below 50% participation.
QQQ stocks above 20ma = 55%. (55 of the 100 QQQ stocks are above their 20 moving average).
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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The TF has made it to the R1 pivot. Yesterday it put in a top at that level. The ES is $3.50 short of the same achievement. So is it groundhog day? Will we slowly grind down to the pivot point for the close, once again ?