What a mess of a market; can’t hold a breakout; can’t hold a breakdown
On my 30m view using 34 ema, this is a dead-cat bounce up to the downtrending pink line (but pink is starting to flatten out)
and bulls won’t get serious until they can get above pink and stay there ...
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
HOW ARE THOSE BUYBACKS GOING ??
PKW is a low volume ETF that focuses on companies that have bought back large numbers of shares in the past year. In order to be included, a company must have repurchased at least 5% of its outstanding shares in the past twelve months.
Right now it looks like the buybacks are still being overwhelmed by the selling … if/when it gets above the pink that will indicate that things have changed … stay tuned
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
SPY 5. No quit in the bulls. The world has gone crazy. But business carries on, profits are made, and the stock market keeps climbing, with some pressure-release pullbacks, some serious corrections, and even some bear markets.
Charts posted are not recommendations. They are just a sharing of information.
Testing day high, key time. Probably the pullback would be bought.
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