You keep posting this but the last "dead cat bounce" you posted lasted two months. It wasn't that long ago.
So... is this rally legit... or a bull trap?
- Thread starter SoyUnGanador
- Start date
You keep posting this but the last "dead cat bounce" you posted lasted two months. It wasn't that long ago.
According to Bulkowski's identification guidelines, that is NOT an inverted hammer.
https://thepatternsite.com/CandleVisual.html
https://thepatternsite.com/HammerInv.html
I do not use candlestick charts nor candlestick analysis in my trading, soooooo....
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ON your chart\
bear market again; mini rally + topping tail.
BUT 2001 Stock Traders Almanac noted female hedge fund manager;
calender note= Columbus day + Canadian Thanks day[bank close / bank holidayLOL]
MAY can be a mini month, SEPT \OCT also.
Counter trend wild days like OCT 4 did increase the risk for swings with shorts/inverse ETfs
NOV can be better for longs sometimes??
NOT a prediction + not insured by any federal agency......................
ON your chart\
bear market again; mini rally + topping tail.
BUT 2001 Stock Traders Almanac noted female hedge fund manager;
calender note= Columbus day + Canadian Thanks day[bank close / bank holidayLOL]
MAY can be a mini month, SEPT \OCT also.
Counter trend wild days like OCT 4 did increase the risk for swings with shorts/inverse ETfs
NOV can be better for longs sometimes??
NOT a prediction + not insured by any federal agency......................
So, basically, it's not a true Inverted Hammer but if it was, his testing shows that inverted hammers tend to be continuation signals rather than the traditional interpretation of being a reversal signal. So, still, outlook is clear as mud.
I haven't used candlestick patterns a ton in the past but trying to add to my toolkit. Thanks for the website, that's cool.
It WAS news. Monday was a typical bear rally. It popped further on Tuesday's JOLTS report. It was all squashed when everyone realized there is more bad news to come after Wednesday's ADP number, and THAT view was reinforced yesterday with the NFP.
Is that the one that is an inverse ETF of basically short the VIX complex? So if you are long on UVXY, you are long on VX future pop? That crap always confused me.
So it was all predicated on a lower than expected JOLTs number. And the ADP number squashed the optimism. I wonder what the reversal on Wednesday morning was about.
Interesting that the NFP came in below expectations but the market puked anyway. I assume the 5% wage increase and lower participation rate must have tanked the indices.
Interesting that the NFP came in below expectations but the market puked anyway. I assume the 5% wage increase and lower participation rate must have tanked the indices.
I thought it was interesting that the market moved that much on Friday but without a ton of volume. If you look at other similar down moves in this bear market, it is usually accompanied by more volume. I'm still suspicious that there may be some exhaustion of sellers. The support at 365 (SPY) still hasn't been broken. I'm a perma-bear in treatment and I love to short the market as much as the next guy but it doesn't sit right with me from a TA standpoint. There seemed to be a measuring gap around 400 which is about halfway between the start of this down move in August and the current price. Have seasonality, mid-terms bump in mind too. Then again, we could just be seeing a consolidation pattern before a lower move.