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10/07/2017 Weekend Update

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Cobra
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10/07/2017 Weekend Update

Post by Cobra »

SPY hasn't touched its weekly ema20 for 47 weeks, tied the record since the year 1996. I think it has good chances to make a new record the next week.

It tells me 2 things:
  • Usually after a long time no touch, the very first touch would be bought as people finally can buy at 20 week average price. So bulls should have no worry for now.
  • No one can have no touch of moving average forever, so SPY should owe us a pullback.
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Cobra
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Re: 10/07/2017 Weekend Update

Post by Cobra »

up 4 weeks in a row, the next week has 66% chances to up again.
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Cobra
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Re: 10/07/2017 Weekend Update

Post by Cobra »

Please don't forget our weekly sentiment poll here: viewtopic.php?f=9&t=2638

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Cobra
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Re: 10/07/2017 Weekend Update

Post by Cobra »

No stock picks for the next week. here's the latest strong stocks count:
viewtopic.php?f=10&t=2640

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superxy
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Re: 10/07/2017 Weekend Update

Post by superxy »

Cobra wrote:SPY hasn't touched its weekly ema20 for 47 weeks, tied the record since the year 1996. I think it has good chances to make a new record the next week.

It tells me 2 things:
  • Usually after a long time no touch, the very first touch would be bought as people finally can buy at 20 week average price. So bulls should have no worry for now.
  • No one can have no touch of moving average forever, so SPY should owe us a pullback.
seems almost touched?
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Cobra
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Re: 10/07/2017 Weekend Update

Post by Cobra »

superxy wrote:
Cobra wrote:SPY hasn't touched its weekly ema20 for 47 weeks, tied the record since the year 1996. I think it has good chances to make a new record the next week.

It tells me 2 things:
  • Usually after a long time no touch, the very first touch would be bought as people finally can buy at 20 week average price. So bulls should have no worry for now.
  • No one can have no touch of moving average forever, so SPY should owe us a pullback.
seems almost touched?
Almost, a few weeks ago but still missed.

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flrtrader
Posts: 477
Joined: Thu Aug 25, 2011 1:58 pm

Re: 10/07/2017 Weekend Update

Post by flrtrader »

Very interesting reading and TA... Made alot of money following this guys TA this year. Been ignoring the market and zooming into single stock signals.

http://publizr.com/surinotes/chart-patt ... 9-2017?#/0
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