my guess is we close on the bearish 20/50SMA daily cross and will shockingly have an overnight gap that will force bears to cover and then we are off to the races again... no stopping this bernak bull!
Strange here, a strong up day like this, how come TRIN is larger than 3?
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1- News from ME(Alalam) : Saudi troop heading to the border in Yamen.
2- News from ME (Aljazeera): the Yamen army leaders clearly devided and it is highly possiple the tanks may enter the capital soon
I shouldn't say this during a strong up day as normally I won't think of shorting on such a day but this really gets ridiculous, for A/D ratio > 6, we have any U/D ratio 1.98? No wonder TRIN is larger than 3 now.
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One thing for sure today, EW guys are getting back on the drawing board. with more question marks on the count If UP is Bullish, Down is Bearish,then going Sideways must be Foolish fools both Bulls and Bears.
My comments are for entertainment/educational purpose only. NOT a trade advice.
hey cobra - trin is not a great indicator anymore since most of the volume comes from the top 10 stocks which happen to be financials. if u take a look at c and bac there is heavy institutional selling and they make up a big part of TRIN
agnosia wrote:hey cobra - trin is not a great indicator anymore since most of the volume comes from the top 10 stocks which happen to be financials. if u take a look at c and bac there is heavy institutional selling and they make up a big part of TRIN
Make sense, thanks, I won't read much into trin but I won't ignore it either.
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Cobra wrote:I shouldn't say this during a strong up day as normally I won't think of shorting on such a day but this really gets ridiculous, for A/D ratio > 6, we have any U/D ratio 1.98? No wonder TRIN is larger than 3 now.
Hi Cobra,
Also on your 5-min SPY chart the green and pink lines are moving opposite of the market direction. I still don't know what each of these lines mean, but from your previous observations they seem to be in exactly the opposite of what they should be for such a strong up market.