Some nice setups on those that held thru the correction
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We had better than average volume today, which considering SPY was marginally up, could be perceived as a good sign. But let's not confuse this with an Accumulation day in volume. QQQ closed unchanged with light volume. And of course …
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 …