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The rebound, for now, looks like a bear flag so in theory should be another leg down but you know I generally don't trust any bear patterns so say, 50.0000000000000000001% chances another leg down at some point
Gap up near the yesterday's high so likely it's just a range day.
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"Since the A/D Line peaked on June 11, the S&P 500 has gone on to add more than 100 points and was perched at an all-time high within the past week. The A/D Line, in contrast, has sunk enough to be at its lowest point in two months.
When this has triggered in the past, the S&P tended to follow the A/D Line lower, with a positive return over the next month only 37% of the time. It showed more risk than reward up to three months later and showed below-random returns across all time frames.
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SpotGamma, Yesterday
"if it was about delta variant then puts would have been bought in a material way. didn't happen.
“… Despite the weakness, intraday S&P flow has been positive deltas all day [yesterday]. No panic.
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Look at yesterday's $VIX and $VVIX no fears? today looks good for bulls because we are at the cross point in between selling to dip buying point. anyways dip buying will trigger if we closed strong today, if so tomorrow will be a buy day.
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My comments are for entertainment/educational purpose only. NOT a trade advice.
Break to the new day high with good looking bull bar then it's an uptrend day, bears be aware. The previous 2 times, the next day after a big down day both were up huge, people are still in buy buy buy mind.
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OK, first sign of uptrend day, it's still early so if you need a second sign, then wait.
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Breakout to the new day high with good looking bull bar then it's the 2nd confirmation of an uptrend day, key time.
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FOUR HORSEMEN OF THE RECOVERY update, daily
The horses have been telling us that the recovery may be stalling; now we know it may be the covid variant surge....
Circles show the recent tops
However all (except XLE) are on positive diverg (STO-14, not shown) today
Let's see if they can recover enough to change the game
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.