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It's the 2nd test of the rebound high so key time. It's resistance (blue line) and Fib 78.4%, so if there're still bears it's now or never.
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Hey Cobra - FWIW noticed a bit of spam on the main board for the trader lounge. Probably want to nip that in the bud before it infests the entire board.
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Out of Bounds wrote:At these levels, Snog turns back red. Watching for conviction and not seeing it yet.
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I'm not familiar with Snog, but agree that short term (3 week maybe) bearish case could be built here (have the charts, but no time at the moment) - low volume retrace reflects selling vacuum rather than buying torrent - currency crosses (especially yen/euro) show short and intermediate term neg dev (looking back a couple months) and historical pos correlation to spx - there appears to be a defensive sector rotation over past 13 days (March) - we'll see
Swing to Intermediate SPX Analysis - multiple time frame - Daily & 60 min time and price cycle analysis.
Usually trade SSO / SDS
My summation signal is down. It has potential to turn neutral today and if so possibly up tomorrow.
My composite trend signal tentatively turned up yesterday. It needs confirmation from one sub-indicator by tomorrow.
My signals have entered inflection. They'll either hold over the next day or two or turn.
My TRIN study suggests that either an intermediate low is in (wasn't much of a low) and up we go, or a high for this bounce is likely set between yesterday and tomorrow.
Interestingly we've entered a Bradley Turn zone, which suggests either acceleration or turn. Actual date is 3/22.
It is not unusual for Mr. Market to pick a direction after some FOMC gyration.
As usual, I have no idea what will happen. The range of probable outcomes looks wide here.
By week's end, Mr. Short may or may not get fired for poor performance, and Mr. Long may or may not get hired.
AAPL daily... tricky... possible tagging one line of resistance, retag of red break(minor bear flag?)... BBand getting tight.... a big move is close.. volume lower on the last two up days...