Why I think this bull flag looking is a bull trap? Neg. histogram, show me the money and positive histogram then the screaming buy on all of my time frames will be yelliiiiinnng
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My comments are for entertainment/educational purpose only. NOT a trade advice.
2 month % performance of the SPY components, plus volatility
health care (orange) is still on a tear, tech (black) is racing up there
tech plus health care represents roughly 30% of SPY
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
RUT and TNA struggling to get over their 50d SMA ... take this chart with a grain of salt... possible H&S .. trying to over take yesterday's possible toping doji.. rising price/declining vol not very bullish imho.
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Rob Hanna shows a bearish edge for today and tomorrow
“Based on the stats table there appears to be a downside inclination. The note at the bottom of the study is especially interesting. Nearly every case has experienced an almost immediate pullback, but those that didn’t went without pulling back for a long time “
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
BTW, imo GDX daily chart looks very short-term bearish (but long-term bullish) -- not only does it have a confirmed
"Three Gaps" reversal (with third gap filled already) but today's action puts in a bearish "stick sandwich".
However, divergence, MACD and ichimoku cloud analysis points to intermediate/long term bullish !!