Screw the market Gods, they can go to hell. I really want to see the Rams go back-to-back SBowl wins!
Charts that Matter
- Thread starter Rams Fan
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Screw the market Gods, they can go to hell. I really want to see the Rams go back-to-back SBowl wins!
You and me both!
Not that I can really say anything with the Rams playing as they are. But it was nice to the Eagles go down last night. Too bad the Commanders didn't play Wentz to let him be the one to have the honor. But if Wentz had played, Philadelphia may have won.
Not looking good for a Super Bowl repeat for the Rams right now. Probably down to about a 17% chance of even making the playoffs.
Not looking good for a Super Bowl repeat for the Rams right now. Probably down to about a 17% chance of even making the playoffs.
Very similar price action last week into this week to what we saw week of 8/8 into 8/15.
SPY on the weekly 10/31 was down in above average volume, while last week's rally was just below average. Daily tried three times to extend and kept fading into the closes. The pros close, the pros know. Week of 10/31 high is $390.39 and if selling goes below there that will be another sign that the rally out of the October low isn't going to reach the down trend line reached during the first two rallies of this bear market.
I closed my longs and went short this morning at about 20% of size. Will add below $390, below $386, and if this week down close down, will add next week on a break of this week's low. Declines have been 8 to 10 weeks approximately. Looking for a low between $340 and $320 approximately.
Below $319 and the market could do a 2008 which would stand a good chance of briefly taking out the lows of the Covid-induced swoon from March 2020.
SPY on the weekly 10/31 was down in above average volume, while last week's rally was just below average. Daily tried three times to extend and kept fading into the closes. The pros close, the pros know. Week of 10/31 high is $390.39 and if selling goes below there that will be another sign that the rally out of the October low isn't going to reach the down trend line reached during the first two rallies of this bear market.
I closed my longs and went short this morning at about 20% of size. Will add below $390, below $386, and if this week down close down, will add next week on a break of this week's low. Declines have been 8 to 10 weeks approximately. Looking for a low between $340 and $320 approximately.
Below $319 and the market could do a 2008 which would stand a good chance of briefly taking out the lows of the Covid-induced swoon from March 2020.
The last three days set up an inside-outside-inside day, which is a pattern Brooks highlights in his trading course. He calls it a breakout pattern. SPY is breaking out of it in favor of the bears at the moment. It is a reliable pattern. As with all "patterns," it is not 100%. But I'd not be buying here until price falls to a previous daily high and successfully tests that old high as new support, or price retraces at least above the midpoint of yesterday's daily range.
Volume associated with this one is exactly as one would expect to see. low volume inside days with a higher volume on the typically more volatile outside day as the outside day trapped bears and bulls and trapped them both in and out of the market.
Volume associated with this one is exactly as one would expect to see. low volume inside days with a higher volume on the typically more volatile outside day as the outside day trapped bears and bulls and trapped them both in and out of the market.
Took the volume off to show the price bars better.
SPY, weekly view, very close to that trendline. My experience is that previous swing highs and lows are more important than trendlines. So an overshoot of the trendline could still be followed by a turn lower. $411 and then $431. If you were to pull up your daily SPY with volume, today was huge volume. Bull volume like this does not often reverse the next day.
This is technical analysis in real time, for those wondering what I'm doing here.
SPY weekly, that trendline met with some selling for today.
SPY daily aggregation. Sell short on break that holds below today's low. Staying long if price stays above. A better sell signal would be to wait for price to break this week's low. If it falls below this week's open, that is a sign that it will test this week's low in the coming days.
SPY weekly, that trendline met with some selling for today.
SPY daily aggregation. Sell short on break that holds below today's low. Staying long if price stays above. A better sell signal would be to wait for price to break this week's low. If it falls below this week's open, that is a sign that it will test this week's low in the coming days.
SPY short has triggered. I'll be looking to see how she acts if/when she gets back to $379 to $380, which is the 50% of this rally. I will close the short if during market hours SPY goes from neg to pos and stays positive. If the selling continues and eventually falls farther than the 50% mark, then $339 is where I think this bear goes to die.
Red day to start the week. Still short SPY and will add on break of last week's low. Will also add if this week closes below last week's low.
Interesting article from Bloomberg last week that brings a fundamental jive with the above technical view. The Bloomberg article might be quite a bit more bearish, tbh.
Looming S&P 500 Bear-Market Case Sees 15% Drop on Fed Balance-Sheet Unwind - Bloomberg