check.
Held the moving average, huge bounce on the quarterly, bull transitioning into a
trading range. 2800 next quarter or 2..
Still a strong bull market says the quarterly chart
- Thread starter VEGASDESERT
- Start date
check.
Held the moving average, huge bounce on the quarterly, bull transitioning into a
trading range. 2800 next quarter or 2..
2800 sooner than i thought, more good news for bulls.
50% retracement means highly unlikely we're in a bear market.
Yet again.
It's where a bar closes that really matters. Notice the big red candle - did not close below MA. That could be look at as bullish - if you like squiggly meaningless lines. And for the moment current candle is well above it. But 11 more weeks (for quarterly to close) is a looong ways away.
It's where a bar closes that really matters. Notice the big red candle - did not close below MA. That could be look at as bullish - if you like squiggly meaningless lines. And for the moment current candle is well above it. But 11 more weeks (for quarterly to close) is a looong ways away.
Look at any strong bear trend, does it look like chart above? Never.
You would typically have a break out and follow through channel down.
This was a breakout that shot up fast, doesnt even look close to a bear market.
Yes, you're right quarter is far from over but still when you retrace
half of the breakout this fast, not looking good for shorts.
They are scrambling to cover.
Although all these technicals mean nothing if the economy goes to
shit and more people get sick.
Then yes, that chart means nothing, more down.
You would typically have a break out and follow through channel down.
This was a breakout that shot up fast, doesnt even look close to a bear market.
Yes, you're right quarter is far from over but still when you retrace
half of the breakout this fast, not looking good for shorts.
They are scrambling to cover.
Although all these technicals mean nothing if the economy goes to
shit and more people get sick.
Then yes, that chart means nothing, more down.
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So you are looking at the one big red quarterly candle to say nope that is not a bear market?
Really?
And note fast retracements often get retraced themselves.
Anyway I don't trade (take signals) on a quarterly or even a monthly or weekly chart basis. Do you?
I trade almost exclusively on a intraday basis and watch the daily/weekly trend but still decide by what is happening now.
%%
That SPY related uptrend chart looks much better than BA...…..LOL
Sometime ago, when BA was still uptrending; some one put a small ad in IBD, wanted to buy a block trade of BA/ 10,000 shares. He most likely got his price, but be careful what you wish for LOL...………………………………………………………………………………………………………………………………… Good thing for the bulls most companies are run better than BA.Thanks