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10/16/2021 Weekend Update

10/16/2021 Weekend Update

Postby Cobra » Fri Oct 15, 2021 4:48 pm

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

1.png

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Re: 10/16/2021 Weekend Update

Postby JFR » Sat Oct 16, 2021 9:42 am

SPY daily. Clear sailing to the top? Be wary.


Screenshot_20211016_062556.jpg
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Re: 10/16/2021 Weekend Update

Postby Al_Dente » Sat Oct 16, 2021 10:23 am

Smalls
IWM
DARK  CLOUD BEARISH.png.jpg
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Re: 10/16/2021 Weekend Update

Postby Al_Dente » Sat Oct 16, 2021 11:27 am

RELATIVE STRENGTH RATIOS
Q: Is tech stronger than SPY?
A: 1) No, 2) No, 3) No
1015rel str tech.png.jpg

So, who is stronger than SPY? (not shown here)
XLE, XLF
plus XLB and equal weight discretionary RCD are on the cusp

https://stockcharts.com/public/1684859
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Re: 10/16/2021 Weekend Update

Postby Al_Dente » Sat Oct 16, 2021 12:58 pm

The brands teens love. Note SNAP
(report via @axios, chart via @ycharts), (piper2.bluematrix.com)
https://abnormalreturns.com/wp-content/ ... _chart.png
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Re: 10/16/2021 Weekend Update

Postby Al_Dente » Sat Oct 16, 2021 1:44 pm

Advance-Decline Percent (breadth) Friday [correction: Thursday] showed renewed strength last seen in mid July (hat tip: Art Hill)

1016spx adp.png.jpg
Last edited by Al_Dente on Sun Oct 17, 2021 12:31 pm, edited 1 time in total.
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Re: 10/16/2021 Weekend Update

Postby Cobra » Sat Oct 16, 2021 1:59 pm

$AAII bull - $AAII bear shows more bulls but not extreme yet
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Re: 10/16/2021 Weekend Update

Postby Al_Dente » Sat Oct 16, 2021 2:52 pm

Surprise:
Both RSP (equal-weighted SPY) and Dr. Copper (leading economic indicator) are confirming the bull
Daily
1016 rsp copper.png.jpg
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Re: 10/16/2021 Weekend Update

Postby BullBear52x » Sat Oct 16, 2021 4:19 pm

From "It is what it is department" The last obstacle . Are the bulls all clear? the answer is NO, bulls need to gap up and trade over Friday's High at the minimum by end of Monday.
The attachment 3.PNG is no longer available
Review on market action in the past weeks/Month, something to note, bearish or bullish gap reversal is real deal, but repeating of gaps up/down it is start to get fishy. most gaps will be filled but doesn't have to be tomorrow. see notes on level of interests
3.PNG
Short term momentum is bullish and a breakout from upper wedge line is clear. with this chart dip will be bought even if we have a pull back down as low as to retest the top wedge, short term is overbought but not bearish.
1.PNG
A daily trend following method is telling a little bit different story, it suggests that this rip will be sold. (RSI(5) >70; return back under 70 will trigger the sell on this time frame.) Bulls beware!
1.PNG
Short term swing is in buy the dip, daily is in sell the rip. know your time frame of a trade will take you extra miles and minimize the confusing. Day trade: Price action on Friday was negative. lower trade the next day is to be expected. Bulls can over turn this bearishness by gaping up, a trade lower than 61.8% into Monday will be very negative. soooo, we should know what to expect right before the market open Monday. keep it simple. Peace!
4.PNG
My comments are for entertainment/educational purpose only. NOT a trade advice.
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Re: 10/16/2021 Weekend Update

Postby BullBear52x » Sat Oct 16, 2021 8:33 pm

Al_Dente wrote:Advance-Decline Percent (breadth) Friday showed renewed strength last seen in mid July (hat tip: Art Hill)

The attachment 1016spx adp.png.jpg is no longer available

LL on ADP and negative on AD, it's short term reversal signs. but only if we trade lower than Friday's high. I saw that, one(2) of my favorite in short term trade, almost next day predictable indicator :D that is negative divergence in my view.
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Re: 10/16/2021 Weekend Update

Postby Al_Dente » Sun Oct 17, 2021 3:41 pm

BullBear52x wrote:
Al_Dente wrote:Advance-Decline Percent (breadth) Friday [corrected: Thursday not Friday] showed renewed strength last seen in mid July (hat tip: Art Hill)

LL on ADP and negative on AD, it's short term reversal signs. but only if we trade lower than Friday's high. I saw that, one(2) of my favorite in short term trade, almost next day predictable indicator :D that is negative divergence in my view.

thanks boss :D
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Re: 10/16/2021 Weekend Update

Postby Al_Dente » Sun Oct 17, 2021 3:43 pm

I thought perhaps cumulative NYUD was drunk from mid-June through August when it stayed underwater as SPX advanced
Then I tried the same measure using SPX cumulative volume (!UVOLSPX-!DVOLSPX) instead of NY…. much better ...

1017upv.png.jpg
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