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Pasta Boss that NY bull bear volume anomaly was a timing issue. Market action picked up dramatically with the CPI release and once the carnage was over the dip buyers rushed in to reverse the slide a half hour before the regular open. So by the time of the regular open we were already in an intense up move. We had a short rotation down at the open then ignited the next stage of the rocket.
only 1 case since 1996 when spy daily rsi(14) > 83.
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Trades with cats wrote:Pasta Boss that NY bull bear volume anomaly was a timing issue. Market action picked up dramatically with the CPI release and once the carnage was over the dip buyers rushed in to reverse the slide a half hour before the regular open. So by the time of the regular open we were already in an intense up move. We had a short rotation down at the open then ignited the next stage of the rocket.
Thanks boss but I don’t see it as an “anomaly” I see it as healthy buy volume in not so many issues = narrow rally
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
I’ve been watching every day to see who is hitting my most extreme reading which is 3-standard deviations above the 50ma (the top line of the red bolingers).
I’m posting these charts to show you that I DON’T SEE THE EXTREMES I’M LOOKING FOR YET, and that’s just astonishing to me
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Narrow ralley is scary after reading Dr Hussman's piece last week, especially with the unrest in the bond markets. He has come up with some metrics for market attitude because i think:
1. This rally has made his traditional valuation method that gave him top honors in two down markets worthless
2. Advances in Behavioral Finance ( The Undoing Project by Michael Lewis for us non-academics)
So Hussman is watching (I think ) market participation rates and junk to investment grade spreads for the turn in market attitude.
pullback is too sharp for a strong opening like today but I'm still willing to believe it'd be bought again.
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Day six BA above its daily bolinger (BA is the #1 weighted stock in the dow: 8.83% of the dow)
Below that is $DJSASD = DJ aerospace and defense index
Bottom panel is DFEN defense x3
WTF?
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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