Back to www.cobrasmarketview.com

11/04/2017 Weekend Update

Post Reply
User avatar
Cobra
Site Admin
Posts: 58337
Joined: Sat Feb 12, 2011 10:29 pm

11/04/2017 Weekend Update

Post by Cobra »

SPY hasn't touched its weekly ema20 for 51 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.
Attachments
4.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
Posts: 58337
Joined: Sat Feb 12, 2011 10:29 pm

Re: 11/04/2017 Weekend Update

Post by Cobra »

Statistics about SPY up 8 weeks in a row.
Attachments
1.png

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Cobra
Site Admin
Posts: 58337
Joined: Sat Feb 12, 2011 10:29 pm

Re: 11/04/2017 Weekend Update

Post by Cobra »

No stock picks for the next week, here's the latest strong stocks count:
viewtopic.php?f=10&t=2668

Like to read more of my commentaries? Please subscribe my Daily Market Report.
Subscribers can find all the members only posts HERE.
StockCharts members, please vote for me HERE, thanks.
User avatar
Al_Dente
Posts: 28535
Joined: Thu Jul 21, 2011 2:29 pm

Re: 11/04/2017 Weekend Update

Post by Al_Dente »

shark32.png.png
IWM daily
“Shark” pattern: A three-bar pattern, with two contiguous inside days. Since it is a continuation pattern [60%], expect the breakout to be in the same direction as the inbound price trend. “Wait for price to either close above the top or below the bottom of the pattern before taking a position.”
http://thepatternsite.com/Shark32.html
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
tsf
Posts: 527
Joined: Tue Feb 15, 2011 7:49 am

Re: 11/04/2017 Weekend Update

Post by tsf »

Source: Urban Carmel‏ @ukarlewitz SJD10304‏ @SJD10304 Nov 3, 2017
8 week winning streaks for #SPX since 1970.
Within the next 4 wks, 9 of 10 closed higher, i.e., momentum.
But within the next 2 wks, 9 of 10 closed lower; trend wants to take a break


Image
Post Reply