The market's decline has been steady and calm. For me this is bearish action. The Q's and IWM's are near their 200-day MA, and by a number of measures - RSI, McClellan, up/down volume, etc. we are near oversold levels, …
Using the OR reversals off highs/lows and watching pivot stacks
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In an attempt not to state the obvious, lots of damage done on Friday with SPY down 1.42% and another alarming Distribution day in volume. We anticipated lower prices due to the accelerated warning phase; however, the rapid decline on …
Today, if you were prepared with a plan to focus on a couple of stocks and ETF's that were oversold and had short-term trading patterns, the oversold condition that we talked about yesterday gave you, at the very least, good …
Until slope of the 50 DMA turns up with good volume, indicators still warning
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The warning phase continues to accelerate at the same time as the oversold conditions. And of course, typical of the market, there are pockets that are on their own. For example, Chinese stocks have been getting slammed this week. I …
In other words, market weak, oversold requiring alot of patience for momo traders
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Today the market rallied initially in anticipation of some positive news coming out of the Federal Reserve. Instead, the news was sobering with no talk of any quantitative easing. Typically I avoid expressing opinions about news related items, but at …
More diligent than ever on controlling risk for mini and swing trades
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Today was the lowest closing price we've had in SPY since March 18. Although the volume was above average, it did not exceed the volume from Friday therefore no Distribution day. The slope of the 50 day moving average, which …