06/22/2024 Weekend Update

[Cobra]

Up 3 weeks in a row, the next week has 55% chances to close up, 81% chances to make a higher high.

So, more up!

[te_fern]

Over the weekend, please take a little time to vote for Cobra (vote several times!), thanks: https://stockcharts.com/public/1684859/ ... /533449377

[JFR]

SPY daily.

For this trader the trend is still up, since May 6.

On a pause now.

Three dojis lately.

The EMAs are up, and in the right order.

MACD is maxed out.

Volume is a bit heavy on two down days.

Sto is maxed out.

I hold some longs, but am always near the exit button. Ha ha.

I did not like the chart action today, even for day trading, and bailed early.

No prediction for the big picture. Nothing to brag about later, or hide, for that matter.

I keep a very casual ear on economic developments, although my education was in the so-called ''dismal science.'' Ha ha. I rarely read any market articles, or ''guru'' columns. [I have read many, many stock market books.]

I trade the charts, looking ... Long. Flat. Short.

I do post some stocks I like, from time to time, but trading them requires a number of necessary steps beyond that; so treat those as information only, not as posted trades.

Why post this kind of background information? I've been on Cobra's site for a long time. A very limited amount of personal information is OK for me, as some people do make some contact. And there you have it.

Not soliciting any business, just.sharing my ideas on Cobra's site.

Have a good weekend.

[koolblue]

[te_fern]

Thanks JFR, I appreciate and learn from your posts!

[te_fern]

Interesting HYG (high yield) is still above this trend line.....

[BullBear52x]

From "It is what it is department" High volume at the top, buyers or sellers volume?, see Up/Down volume, not on this chart, Friday Down volume were higher than Up volume. bearish sign.

$NYMO is no longer work or the market just defies the gravity? negative divergence however you sliced it.

A daily trend following is buy next dip, we are far from entry buy setup.

Swing setup up is on the sell the rip. waiting mode, next rip will be sold.

Intraday: same playbook, Swing low on Friday, it is bearish bias, let the Fobo be the guid as to what to do on Monday. Monday is normally flat to up, if it's weak, get ready for a major trend change. trade well, Peace!

[JFR]

Thanks JFR, I appreciate and learn from your posts!

You are welcome, te_fern.

And I have appreciated our correspondence and your posts.