Cobra wrote:exceeds the pink tinted area then the low might be in, wait and see.
Price fulfilled the measured move, but so far has not exceeded. Am watching up/down vol and adv/dec for clues.. so far no sudden dramatic improvement... maybe some bullish reduction in declining issues...
update: QQQ and SPY both trying to hold above their 5min 20 ema
really like a chance to break the weekly lower bolly 2707ish with last weeks - mac d move before a good lasting >1 week bounce. in short order given the weakness of this late rally...
exceeded mini target, first good sign. sometimes there's a revisit of the day low though, let's see.
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brokebybernacke2 wrote:really like a chance to break the weekly lower bolly 2707ish with last weeks - mac d move before a good lasting >1 week bounce. in short order given the weakness of this late rally...
2770 sp good level of resistance here. dont want to lose it.... see if they park it round here till tomorrow, gap potential here.
brokebybernacke2 wrote:really like a chance to break the weekly lower bolly 2707ish with last weeks - mac d move before a good lasting >1 week bounce. in short order given the weakness of this late rally...
2770 sp good level of resistance here. dont want to lose it.... see if they park it round here till tomorrow, gap potential here.
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Either way. Volatility is rising. (Tho the VIX is still well below last week's spike)
Another sign of rising volatility-- the level of raw NYSE tick readings has become more extreme... in both directions. Many prints in the +/- 800 level today.
Either way. Volatility is rising. (Tho the VIX is still well below last week's spike)
Transports (IYT) seems to be leading the way down?
..multiple sectors with losses in the -2% range, or worse...
The point I was trying to make is the multiple hits on the support after reversing from the 200 SMA retest. Ready to break?? https://www.tradingview.com/x/lPSR18by/
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So we are about to close on a weak day. Then we enter the Asian session which as been just ugly. No sign of the National Team. If they knock 20 points off the US close it will all be up to London/Frankfurt. At least in England and Germany hot money is leaving the country so you know some of it is going into the S&P.
brokebybernacke2 wrote:really like a chance to break the weekly lower bolly 2707ish with last weeks - mac d move before a good lasting >1 week bounce. in short order given the weakness of this late rally...
2770 sp good level of resistance here. dont want to lose it.... see if they park it round here till tomorrow, gap potential here.
tough call , but as stated, i watch bigger time frame mac d/PPO trends when tight calls, last week weekly - mac d cross -, and this week a MONTHLY -PPO cross with pending - mac d to follow.... favors more down imo. tomorrow/monday for swifter moves, and longer term increase bear odds..personally leaning towards a break of 2707 weekly bolly before any bounce.
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