Tagged "Reversal"
As mentioned in the yesterday’s report, whether the 05/09 low is the short-term low or the intermediate-term low, I need see how rebound goes first. [Read the Rest]
...WHERE ARE WE?
- There might be a chance we see a small lower low tomorrow but basically the low might be in or very close.
Two cents:
- Today’s low will be revisited at least.
- May see rebound in the next few days.
THE EVIL PLAN:
- The short-term evil plan below illustrated what I mean today’s low will be revisited.
SPY (well, lots of indices) opened low closed higher, forming a bullish reversal bar today, which USUALLY means more rebound, so let’s see how the rebound goes in the coming days first. [Read the Rest]
...Two cents:
- The red day today violated the 7 Days Rule, so it added some credit to my big picture evil plan.
The bottom line, expect a pullback of some kind as early as the next Monday. The size of the pullback would help to confirm the big picture evil plan which I’d like to maintain for now. [Read the Rest]
...We might see a from high to low 2%+ pullback soon. I just don’t have enough evidence to foresee whether it’s up first then down or simply continue down tomorrow. [Read the Rest]
...Four cents:
- Might see more pullbacks but may close green eventually tomorrow.
- Maintain the call that we’ll see from top to high 2.5%+ pullback soon.
Two cents:
- Because the Friday’s higher high is not decisive enough so bears still have the hope that this could be a Double Top in the forming.
SHORT-TERM: COULD SEE MORE PULLBACKS
Gap up, new high but closed in red, so it’s a typical Bearish Reversal Day. From the chart below we can see chances are high we’d see more pullbacks ahead (not necessarily tomorrow though). [Read the Rest]
...SHORT-TERM: IN WAIT AND SEE MODE
As mentioned in today’s Trading Signals, I have no conclusion today, because on one hand, odds are high SPX 4 consecutive red days means a bottom, but on the other hand, odds are also high, a Bearish Reversal Bar formed today could mean more selling ahead. [Read the Rest]
...SHORT-TERM: IN WAIT AND SEE MODE
Today, we had a gap up, new high then pullback to close in red, therefore it’s a typical Bearish Reversal Day. [Read the Rest]
...SHORT-TERM: IN WAIT AND SEE MODE
Another black bar on SPY daily chart. So many reversal bars recently plus the VIX divergence as illustrated in the chart below, plus the statistics mentioned in 01/13 Market Outlook, plus the record low Normalized CPC, so I still believe a top of some kind should be around. [Read the Rest]
...SHORT-TERM: MIGHT SEE A RED WEEK THE NEXT WEEK
What I’m relatively sure now is a top of some kind should be around. [Read the Rest]
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