Potential Bounce ComingPart 1 of 2: Seeing some signs of a short term bounce coming. Planning to unload the few positions I still have open for now.
Institutional Support dumped you yesterday... Looking at this indicator INDEX:S5FI (Stocks above 50 day moving average) a reading above 50.0 is bullish and means institutions and hedge funds are more likely to hop in and hold the market up if you noticed on Wed we got above 50.0 to 50.29 but then we came down and closed at 47.91 meaning even
Market BreadthBased on the very top chart for short-term swing trading, we are close for a possible pull back in the next few days. Normally it only stays "overbought" for a few days. Meanwhile the rest of the charts are showing positive Market Breadth. Keeping an eye on the 50-day chart. Having the 50-day back a
RSI of % SPX Stock Above 50D MA at 15.65 !Only 4 time we have had such low signal or lower reading !!!
Short Term Out-Look for Stock WeaknessThe number of stocks below their 50-day moving average are nearing the 3.618 % Fib-Extension, which does not mean it cannot reach even the 4.618 % level. Most likely to my experiance, stocks will recover short term after todays "witches" have finished their "rituals".
I expect intraday to become ug
S&P 500 Has Potential For Massive Buying OpportunityIn this video, I cover the SP 500 stocks over their 50-day moving average. We are never had previous highs and have potentially formed a double-top higher high after some climatic activity. If this is a rollover a measured move of the first leg brings us into 3% territory.
With rate hikes upon us,
Divergence in S&P 500 may signal incoming correctionIndices have been hitting all time highs but the number of stocks trading above their 50MA has fallen. I believe we may finally be looking at a correction. As we get into the next quarter earnings season, it will be whether stocks can continue to exceed expectations and keep the market excited about
Is the correction over?The % of stocks above their 50-day MAs is signaling that an upward rally is near.
Not only it already went below 10% but now is showing a bullish divergence with the $SPX.
A good confirmation for a changing mid-term trend, not only would be that the CBOE:SPX gets back above its 50-day MA but als
Short term bounce may be just around the cornerHere come MA200. Strong support for SPY @ ~420.
The -10% level below water mark (HH) is 412.
Is a market of stocks, not a stock market?You can argue that there are several stocks that are working.
I profited on two stocks this month but weren't big profits.
Some say that is still a bear market, others that is already a bull market as the NASDAQ:IXIC already rallied 20% from its low.
I will just say that is an unhealthy market.
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Displays a symbol's price movements over previous years to identify recurring trends.