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I added two indicators to this chart based on a recent update from Lizard Indicators. They suggested using the Souper Smoother U as a substitute for the Gann Hi Low activator. The advantage is the ability to offset from the primary average. Thus the stop line and appropriate changes in bar color. They are suggesting using the Gann as a filter for the Stochastic Momentum Indicator. That one uses the median of each bar instead of the closing price which is used by the regular Stochastic.
My bottom line is a Cobra expression "need to see more bars". I am thinking we are pretty much done until after the long weekend as all the really big traders are either skiing in the Rockies or golfing in the Caribbean right now, leaving (as my Dad used to say) the shoe clerks in charge.
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Intraday: we have a swing high, it is bullish bias but weak trade all day so far, buyers need to see higher closed or we will end the day with a negative price action.
Internals: bullish bias, let see what the closed be? Peace!
My comments are for entertainment/educational purpose only. NOT a trade advice.
New low, however, watch for the classical breakdown then rebound.
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Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.