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05/18/2021 Market Recap

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Cobra
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05/18/2021 Market Recap

Post by Cobra »

Strong follow through wanted. Small down again then down 3 days in a row but didn't down much, it's not a normal bear behavior as the down usually is sharp so the chart would favor bulls. So must be either big down or small up (implying the battle hasn't settled) tomorrow. Small down would be bad for bears. Big up would just prove that those small down 2 days actually favor bulls.

In short:
  • Bears want big down, or small up.
    Bulls want big up, or small down.
spy.png

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Cobra
Site Admin
Posts: 58337
Joined: Sat Feb 12, 2011 10:29 pm

Re: 05/18/2021 Market Recap

Post by Cobra »

4.png
Called the range low was in wrong again.
viewtopic.php?f=2&t=4602&p=294654#p294654

The breakdown then sharp reversal up actually worked but it too much longer time than I thought so I thought the breakdown was valid. The rebound was much sharp than I thought.
viewtopic.php?f=2&t=4602&p=294663#p294663 (It's a range day so no move could be trusted therefore I called breakdown and reversal up)
viewtopic.php?f=2&t=4602&p=294664#p294664 (Just a follow up)
viewtopic.php?f=2&t=4602&p=294668#p294668 (At this point I thought there'd be no more sharp reversal up which was wrong, it indeed was sold though)

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