02/04/2023 Weekend Update

[Cobra]

Up 2 weeks in a row, the next week has 54% chances to close up, 75% chances to make a higher high. So more up.

[te_fern]

Over the weekend, please take a little time to vote for Cobra, thanks: https://stockcharts.com/public/1684859/ ... /533449377

[Al_Dente]

Updated version the classic "Dow Theory"
https://stockcharts.com/articles/mindfu ... 6456794c34

[JFR]

SPY daily.

Reading the chart ...

Trend up.

Breakout. Mild pullback. All good so far.

Bollinger bands, pushing the outside of the envelope.

EMA 20 up.

EMAs 50 and 100 up a bit.

MACD crossover, slope up.

Histogram above zero but declining a bit.

Bollinger 'river' up.

Good volume on the white candles.

My reading --> Bullish, but always vulnerable.

Needs to resume up.

How would I trade the indexes (ETFs and futures)? Day trade and scalp.

Stocks --> I have found some swing trades.

Just in my opinion.

[BullBear52x]

From "It is what it is Department" Bulls are marching on, now what? will it? should it? TA can help to keep ourselves honest with no bias. Time frame of a trade maters.

Daily breakout, let it runs, what to look for? MACD will tell when the end is near or next consolidation phase is at hand, we are on the up trend. nothing to see here for bears. PERIOD!

hourly bearish crossed and negative on AD issues, Bearish bias until momentum is bullish crossed.

Intraday: Friday ended the day with negative price action, weakness should continue. again, on intraday, things can change on a dime, I use Fibonacci to help outline the intraday range. keep it simple. Peace!

[merryme]

Bulls continue to rule...OLD CHART ON RIGHT....updated price action on left.

[DellGriffith]

the 50 dma is sloped downwards on the weekly SPY. has been for a long time. thats a great definition of a bear market. to get bullish, youd have to see that slope upwards again. price has moved above the 50 dma, so its possible we have a new bull market forming. however, it did cross over the 50dma in the dotcom crash, only to sink back below it. however, usually before a bear market ends, there usually must be a crash/capitulation. ever since the 50 dma sloped downwards in may 2022, there hasnt been a crash so i think were in a bear market still, which doesnt invalidate a big rally in this moment.

so overall, with the 50 dma curving downwards on weekly SPY, and with price above that 50 dma, we have indecision. feels risky to go either way atm.

[merryme]

Still moving around/above the $392-$402 VOL at PRICE range.

[merryme]

Still expecting the WASH LINE to get hit. Seems like the LOW of 2/24/22 is important too.
Purple thick line is Anchored VWAP from March 23, 2020, low.

[Al_Dente]

I love this guy; follow him every Saturday for his weekly update.
He's part of the Najarian team; I've been with him for 2+ years.
Takes about 13 minutes (he doesn't drone on for an hour and waste your time).
As can always be expected: he's sometimes right, sometimes wrong, but more often right than wrong.
https://www.youtube.com/watch?v=LtXJ3ebdVbU

[Al_Dente]

THE PASTA TEN: ten favorite indicators in two parts
Until further notice, all are green
Daily

[JFR]

I love this guy; follow him every Saturday for his weekly update.
He's part of the Najarian team; I've been with him for 2+ years.
Takes about 13 minutes (he doesn't drone on for an hour and waste your time).
As can always be expected: he's sometimes right, sometimes wrong, but more often right than wrong.
https://www.youtube.com/watch?v=LtXJ3ebdVbU

Thanks, Pasta Boss.

That guy is good.

Very clear. Keeps it simple. Most commentators resort to some bafflegab to show how 'smart' they are.

No useless fill garbage.

I am at a stage where I do not consult the 'gurus' much. Murphy and Bowley on occasion. I've got all the books, subscibed at times with different services a decade ago, tested the indicators and have my strategies.

But, as noted, that guy you posted is good. Worth checking in on him.

[Al_Dente]

Thanks, Pasta Boss.
That guy is good.
Very clear. Keeps it simple. Most commentators resort to some bafflegab to show how 'smart' they are.
No useless fill garbage.
I am at a stage where I do not consult the 'gurus' much. Murphy and Bowley on occasion. I've got all the books, subscibed at times with different services a decade ago, tested the indicators and have my strategies.
But, as noted, that guy you posted is good. Worth checking in on him.

His weekend thing has always been FREE. He has a service that he wants you to buy (like all of them) but I just eyeball his FREE weekend post

[Al_Dente]

This uptrend is about a month old. The previous uptrend lasted two months, so if the time pattern repeats (recency bias), there is more upside
..... or the recent pattern fails and boom

Further: we know INDU has been leading up for a while.... not any more...
I think that means caution... If it was leading up ... then it could very well lead down