SPY hard to know if the run today was the start of a bottoming formation or a good rally to last week's resistance. Incredible how it nearly wiped out yesterday's loss. A true testimony to the ongoing volatility. Fact-good follow …
SPY Inside day. Big Volume but not a Distribution Day. However, under the 200 weekly moving average and S1. Therefore, will watch to see if it can take out today's high which would also take it back above the 200 …
SPY Well I guess it took the weekly RSI to read oversold and one last flush after the FED meeting to get the rally we all waited for. Question now is how much and for how long? The longer it …
SPY Finally, we can start to look at the weekly RSI and say we are oversold. The daily RSI has been different, oversold for quite some time now. And of course just because the weekly RSI is oversold, I have …
Letter to my Subscribers:
Given the historic event of the US downgrade by S & P, let's not lose perspective that any/all historic events have created and will create opportunity. To survive as a trader, one has to adapt. And …
SPY So as not to repeat the obvious, want to talk about volume patterns. Yesterday the hammer candle was not supported by the "double the average daily volume" rule of thumb. Today, the volume did indeed double. Now we need …
SPY We did indeed confirm a Distribution phase today but, also acquired an Accumulation day in volume with a hammer candle. The criteria for blow off bottoms is nearly double the average volume. That didn't quite happen, but clearly the …
SPY If we get 2 closes in a row beneath 128.70 that would put it in a Distribution Phase. Now, 4 Distribution days in volume. The signs have been there since the island top back in July. The slope on …
SPY Although it traded beneath the 200 DMA, it did not close beneath. If we get 2 closes in a row beneath 128.70 that would put it in a Distribution Phase. SPY is even more oversold that it was last …
SPY Last time we tested the 200 DMA, the bounce was incredible but took a couple of false starts and then a couple of days of digestion. Important to note is that it never closed below the 200 DMA back …