lunch time, will be back. so far looks like a small bear flag. you can again use this comment as buy signal, let's see...
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MrMiyagi wrote:I think another bit of a leg down before rebound here.
Mr. M. are you buying any TNA?
I am waiting a little bit.
Almost every time the SPY crashes through the lower BB (10,1.9) it rebounds the next day or shortly after to higher than the low. RBC charts a re sucky for viewing but here it is;
Since morning lows, are we in another triangle? This time, from the moves, volumes and patterns of the bounces... I feel it's only a bait and it will go up.
dcurban1 wrote:Great, I walk out the door to write an article and the market tanks.
Yeah I know. What triggered the article was news out of Taiwan that banks there are invoking 'market disruption clauses' to raise rates as their funding costs are shooting up as Euro banks pull back exposure.
Still waiting for INTRADAY SCALPER spy signal to cover shorts
Still don’t see it yet, spy still weak here
Instead, jut my “Nuisance Indicator” fourth (?) time today I’ve had to adjust the SPY scaling on freestkchrts at the BOTTOM of the screen…
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Per my extensive post on Nov opex week - I can now confirm - we have an hourly buy signal!
BUT let me re-iterate that while it worked well in Jan and Oct of this year, ALL of the signals in 2008 – 2010 did not work well, as the ultimate bottom was either on the FRIDAY or the following Tuesday / Wednesday (aug 2010)
AND NOV Opex has not had a Thursday low of the week since some time before 1998!
Still, we are in the buyzone – that is for certain.