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10/28/2017 Weekend Update

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Cobra
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10/28/2017 Weekend Update

Post by Cobra »

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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Cobra
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Re: 10/28/2017 Weekend Update

Post by Cobra »

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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Cobra
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Re: 10/28/2017 Weekend Update

Post by Cobra »

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

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