MACD made a bullish cross on the open. As I said before, we need a strong drop immediately to prevent it. The drop from the open has been JUST enough to erase the bullish cross (sitting at -0.02 as I write). However, bears must keep working hard to drive price down to prevent it. No failure allowed here. A MACD bullish cross kills the correction RIP and a rally ensues.
bearish as of SPY 406 on 2/17/23
currently: end bearish as of SPY 406 on 3/6/23
I'm interested in a new study entitled: number of consecutive days daily SPY spends in the lower half of the bollinger band.
Currently, this is the 16th consecutive day in the lower half. Just eyeballing it, that is a REALLY long time. Only a small handful of times has it gone longer. I think in 2008 there was a period of 29 days. I also want to look at what happens when it crosses into the upper half after spending a long time in the lower half.
bearish as of SPY 406 on 2/17/23
currently: end bearish as of SPY 406 on 3/6/23
yesterday was a bit of pop then drop this am , if we can hold this 1890 level, we should have another good pop, fed won't say much, throw in a few dove words..maybe lasts until friday gdp?
possible higher low. maybe the low was in for the morning. don't know after FOMC.
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TraderGirl wrote:Vix p-bar.....
This week and next week are not particularly bullish...more bearish than bullish...
The week after that may see some bullishness...but not for long....
hey you
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.