10/12/2024 Weekend Update

[Cobra]

Up 5 weeks in a row, the next week has 42% chances to close up, 69% chances to make a higher high.

So a little bit up bias.

[JFR]

SPY daily.

New all-time high.

Marubozu.

The EMAs are all up, and in the right order.

STO and MACD are bullish.

Starting to push the top edge of the Bollinger.

Yes, it's a breakout, but ...

Best to trade with mouse near the exit button.

Volume is light.

Not much Oxygen at this elevation.

The bears are sleeping on the job. Do not wake.

[tsf]

Thank you, Cobra and the Board.

Cobra's weekend updates appeared to be quite good.
I couldn't believe Cobra's weekend update of October 5, but it was correct.

Today, Tom McClellan wrote that the Choppiness Index suggested a possible trend move.
Other tools are still needed to detect the direction of price movement.

https://www.mcoscillator.com/learning_c ... ess_index/

GLTA


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I am a permanent student and novice. My posts are for information sharing only. NEVER advice.

[te_fern]

Over the weekend, please take a little moment to vote for Cobra, thanks: https://stockcharts.com/public/1684859/ ... /533449377

[BullBear52x]

"It is what it is Department" The higher we go the higher the fear ticklin up right along. Day trading heaven.
On the Fear side of things, we are in a fearful market, high volatility provided bigger trading range to be had as long we are on the right side of the trend.

This type of reading tells me surprise will be to the down side.

Swing setup: price action with new swing high continues. dip will be bought.

Intraday: Bullish, nothing to see for bears until we have a reversal under 38.2% level. for now enjoy a new ATH as high as market wants it to go. Trade well, Peace!

[Trades w 2 Cats]

Chinese bazooka was a dud. Not expecting a gap up open on Monday.
Bank of America saying last week was a huge withdrawal of funds from Japanese stock market.

Most wave counters I follow are looking for a pullback. Possible the Asian markets will lead us into that on Sunday night.

Charts are showing Fed balance sheet has now shrunk by 40% of the COVID increase. At some point the Fed draing liquidity and the Treasury borrowing more are going to cause a problem and the liquidity will drain out of stocks.

[Trades w 2 Cats]

Found the chart.
By the way lots more chatter about the repo market as mid sized banks don't have good options for making liquidity requirements. Banking crisis seem to follow the classic literary pattern, slowly at first then all at once, (The Sun Also Rises by Hemingway)