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12/02/2017 Weekend Update

12/02/2017 Weekend Update

Postby Cobra » Fri Dec 01, 2017 5:25 pm

SPY hasn't touched its weekly ema20 for 55 weeks, this is a new record. the previous record was 47 weeks.

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: 12/02/2017 Weekend Update

Postby Cobra » Fri Dec 01, 2017 5:28 pm

Statistics about SPY up 2 weeks in a row. We can see 76% chances higher high ahead the next week, so good chances another all time high the next week at least.
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Re: 12/02/2017 Weekend Update

Postby Cobra » Fri Dec 01, 2017 5:32 pm

Here's the latest strong stocks count:
viewtopic.php?f=10&t=2696&p=247071#p247071

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Re: 12/02/2017 Weekend Update

Postby Cobra » Sat Dec 02, 2017 2:11 am

ABC News clarifies, then corrects its bombshell report of Michael Flynn's discussions with Russia

https://www.cnbc.com/2017/12/01/abc-new ... eport.html

Earlier in the day, ABC cited an unnamed source saying Flynn was prepared to testify that he made overtures to the Russian ambassador at Trump's behest, while the heated presidential contest was underway.

Yet Friday evening, the network backtracked, saying Flynn would likely state that Trump's instructions occurred after the election. That distinction effectively altered the timeline and lessened the significance of the discussions — which according to ABC's report were meant to galvanize U.S.-Russian efforts to fight ISIS in Syria.


So the market was falsely informed therefore falsely fell. Monday might huge gap up to correct the Friday's false falls?

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Re: 12/02/2017 Weekend Update

Postby Al_Dente » Sun Dec 03, 2017 2:08 pm

Almanac:
"Rarely does the market fall precipitously in December."
http://jeffhirsch.tumblr.com/post/16808 ... -500-month
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