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10/28/2017 Weekend Update

10/28/2017 Weekend Update

Postby Cobra » Fri Oct 27, 2017 4:15 pm

SPY hasn't touched its weekly ema20 for 50 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: 10/28/2017 Weekend Update

Postby Cobra » Fri Oct 27, 2017 4:16 pm

Statistics about SPY up 7 weeks in a row. Noticed 88% chances higher high ahead the next week, so we'll see another all time new high the next week.
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Re: 10/28/2017 Weekend Update

Postby Cobra » Fri Oct 27, 2017 4:21 pm

No stock picks for the next week. Here's the latest strong stocks count:
viewtopic.php?f=10&t=2661

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