If any of you follow ACD, today my 30 day number line confirmed negative for the first time.
Per my referenced post, SHAK’s ACD number line confirmed negative on 10/13 and there were many subsequent short entries if one so desired.
However, after today’s action, tomorrow will confirm a positive 30 day number line no matter what the daily. This is the first positive confirmed.
Additionally, the vast majority of my index, stock, ETF, sector etc number lines were negative today …. but, SHAK was a +3!
Least Obvious: The confirmed number line, which sums daily numbers for the past 30 days, demonstrates that SHAK has had recent strong internal strength. Moreover, it bounced off its monthly A down on the 8th and confirmed a Monthly A up today (yes it’s late in the month but still worth noting). The 5 day number line is very extended at a +9, so a breather would not be surprising. Natural entries would be an intraday A Down or the weekly A down in the 38 area.
Obvious: Sometimes the obvious works out. Four touch resistance trend line broken, 50 day simple and exp moving average broken. Rising bottoms 5 touch trend line and so on and so forth. Anything can happen but I would be very hesitant to short SHAK at this time.