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10/21/2017 Weekend Update

10/21/2017 Weekend Update

Postby Cobra » Fri Oct 20, 2017 4:18 pm

SPY hasn't touched its weekly ema20 for 49 weeks, this is a new record. the previous record was 47 weeks. I think it has good chances to make another 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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Re: 10/21/2017 Weekend Update

Postby Cobra » Fri Oct 20, 2017 4:19 pm

statistics about SPY up 6 weeks in a row
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Re: 10/21/2017 Weekend Update

Postby Cobra » Fri Oct 20, 2017 4:20 pm

statistics about SPY up 6 days in a row.
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Re: 10/21/2017 Weekend Update

Postby Cobra » Fri Oct 20, 2017 4:23 pm

No stock picks for the next week. Here's the latest strong stocks count:
viewtopic.php?f=10&t=2654

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Re: 10/21/2017 Weekend Update

Postby Al_Dente » Fri Oct 20, 2017 9:16 pm

Note the "Abandoned Baby" on QQQ
http://thepatternsite.com/AbandonBabyBull.html
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Re: 10/21/2017 Weekend Update

Postby Al_Dente » Sat Oct 21, 2017 1:21 pm

Equal Weighted SPX confirms bull [Headline Charts]
https://1.bp.blogspot.com/-T6yF-VZGZt8/ ... 1%2BAM.png
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Re: 10/21/2017 Weekend Update

Postby Al_Dente » Sat Oct 21, 2017 2:36 pm

Friday:
“Bearish Hanging Man” on SPY (but not on SPX) needs confirmation
1021hang man.png.png
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