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we're here. if cannot even make a new rebound high then the it's much weaker than I thought. wait.
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A possible ABC (wave 2?) bear flag is breaking as we speak. Could it be that an actual intermediate downtrend is continuing? Imagine that.
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Need the VIX to break above .. to confirm?
Righteo I suppose. I monitor the VIX/VXV ratio. You appear to be a chart freak, like myself, no offense. I might get carpal tunnel syndrome. Looking for TRIN to go bearish, but today NYUPV is greater than NYDNV even though price is down. The scary thing is that is takes no selling volume to send SPX down, which is why everyone is afraid to sell. It appears that intermediate bullish momentum is waning though. Time for another short squeeze?
summertime blues...no volume=no depth...yesterday am saw no significant volume until near lows of am downdraft, today chart similar, except up around london closing...
the up/dwn vol ratio sticking around 1.25 -not that significant, but
with no depth then there are no resting sell orders above so I expect the tick volatility to continue, while we develope recent range for a bit...1 week? 2 weeks? don't know, last time was about a month of consolidation before upleg began but now breadth momentum and volume momentum looking neutral to negative and the leaders (small caps + Fincl) not leading,
GL
Good comments. You must think I know what I'm talking about
By resting sell orders above, I take it that there are no limit sell orders placed above the market price. What about tightened stops for bulls that are in the money (intermediate trend)?
Swing to Intermediate SPX Analysis - multiple time frame - Daily & 60 min time and price cycle analysis.
Usually trade SSO / SDS