Weekly Poll: Bounce Soon?

[shortie]

We are oversold, but we are also in a bear market. Oversold can easily become super-oversold. Therefore, while a meaningful bounce could happen soon, some more downside at first would not surprise me.

 

[tradingjournals]

We are not in a bear market--we have been in a horizontal market. Goldilocks market?

PS: How did you get the 5-star rating on this thread. I want my threads to also have 5-star. So knowing tricks would be helpful, particularly if in the future I decide to advertise on this forum.

 

[shortie]

it helps when one has friends

the rating can be selected at the bottom of the page (after the thread is opened)

 

[ET99]

up up and away

 

[KMAX]

Current record: 2-3

I'm ridin' with the Bears again this week.

My reasons:
Seasonality: Bearish
Dollar: Bullish
SPY: Bearish
Industry Group Rankings: Bearish
Industry Group Rankings (Manufacturing): Bearish
Economic Data (ISM Survey): Bearish

HOWEVER, it does look like there is an inverse head and
shoulders pattern starting to develop on the weekly SPY
chart. The last shoulder is beginning to form.

 

[Petsamo]

Quote from tradingjournals:

How did you get the 5-star rating on this thread.

Eh, I see a 1 star rating on this thread.

Go bulls !!

 

[gettinglucky]

Quote from KMAX:

HOWEVER, it does look like there is an inverse head and
shoulders pattern starting to develop on the weekly SPY
chart. The last shoulder is beginning to form.

... yer herd frem mie firsht:

 

[thunderbolttr]

I think I'll remain pretty bearish until we close above our June high for a few days.

 

[LEAPup]

Anyone notice the long legged doji on the daily spy friday's close?

Yes, it requires confirmation in the form of a move opposite to the prior trade on the next trading day.

Looks like confusion, and indecision among the bulls and bears has set in.

Yes, I know, a long legged doji is usually a better signal at tops than bottoms, but just wanted to point out a possible reversal.

I voted bullish.

Hope everyone had a great weekend!

 

[shortie]

"....Cohen adds that the valuations are appealing for the equity markets. “Valuations are very appealing for the equity markets; obviously with low interest rates we think that there is lot of wriggle room for interest rates to increase and equities to still look attractive,” she explains further."
http://www.moneycontrol.com/news/fi...for-right-direction-goldman-sachs_474543.html

no mention of S&P 1300