BullTart wrote:Zooming out to the weekly, we are at a major cross road...
we're right up at the cross-over zone between the 10/80 SMA now.
If this rally were to fail, this would be where it would happen.. somewhere in between 1200 and 1220.
Let's see if the bull can pierce both the 10 and 80 weekly SMA right where they converge.
Major crossroad, but we are all just waiting for it, so it won't happen now.
Bulls are wimping around at VWAP, weak
But VIX just made a NEW INTRADAY LOW at 33.16 ?
Which may mean that the bulls aren't finished yet
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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Sorry, when I say bulls I mean the shorts (anyone see any real bulls running around?)
The shorts are in control.
And as we all know, the BEAR short position, in its 180 degree twisted definition, is ALWAYS a potential buy order waiting to happen.
BTW: All that bull money just “waiting on the sidelines” is a myth. The facts are over at trimtabs where Bieder what’s-his-name has reported, what is it, for 12 or 14 months straight (don’t remember exact), mutual fund liquidations, and his statistics show that they are not coming back … yet. (That fact in itself is contrarian bullish, but that’s another story). Trimtabs hard to follow, too expensive, and the free part doesn’t go too deep. But deep we must go, and ferret out the numbers (and please post anything unusual here) because he reports the facts, not the tinfoil.
So, no buyers there.
The only ones readying their buy orders are the shorts, and they are calming down now, for the moment.
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.