Weekly Poll: Dow Up 8 Weeks in a Row. Implications for the market?

SPY Next Week?

  • Bullish

    Votes: 16 39.0%

  • Flat

    Votes: 4 9.8%

  • Bearish

    Votes: 18 43.9%

  • I prefer to keep my opinion to myself or don't have one

    Votes: 3 7.3%
  • Total voters
    41
  • Poll closed .
sectors are up +0.5-1%, the volume is low. methinks this is only a technical bounce to relieve the oversold pressure especially in Qs and IWM. the downtrend could resume soon.
 
Quote from shortie:

sectors are up +0.5-1%, the volume is low. methinks this is only a technical bounce to relieve the oversold pressure especially in Qs and IWM. the downtrend could resume soon.
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I like how we discuss it.
Markets still higher than a week ago. Dow is up for 8 weeks in a row
but somehow we talk about oversold pressure

what happens now is consolidation, nobody is selling anything
AAPL just corrected 2% on purely fundamental reason after 60% run up and already recovering

the word oversold is not approprate here
 
Quote from kashirin:

I like how we discuss it.
Markets still higher than a week ago. Dow is up for 8 weeks in a row
but somehow we talk about oversold pressure

what happens now is consolidation, nobody is selling anything
AAPL just corrected 2% on purely fundamental reason after 60% run up and already recovering

the word oversold is not approprate here
More...

Qs RSI(2) hit very low levels, lowest since November
 
Quote from shortie:

Qs RSI(2) hit very low levels, lowest since November
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I don't trade technical but if market less than 0.5% from its highs how it can be considered oversold?

logic can not be substituted by fancy indicators

wait for a flash crash when we can discuss if it's oversold or not
now your indicator definetely do not work

I mean, market will continue to grow indefinetely but not because it oversold and need a rebound but because of well known fundamental reasons which is called money printing
 
QQQQ lost 3% in 3 days. obviously it was very oversold short-term, hence, a bounce was natural. You probably looking at longer time frames where nothing has been oversold for months due to the giant rally we are in.
 
Severe thunderstorm warning! Longs must cover! Danger in Fed report!

1. 1300 SPX is said to be an important resistance level
2. market is up 3% this year
3. 1+2 = Fed report is an excuse to sell
4. ......add your reason here

SPY 129.60
 
The FOMC meeting in a few hours will be nothing more than the same exact dribble Bubble ben bernanke has been doing for the last 2 years at every fed meeting.....easy money policies and stimulus is the standard now for the economy which cant support itself on its own, only way to keep the economy moving ahead is with easy money policies brought on by Bubble ben bernanke himself.....
 
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