10 days of September and the market is up ~6%. We had similar run-ups in June and July. Both followed by sharp pull-backs. No reason to think that this time is different. Also, last but not least: Nitro's NFV ~40 pts below the current level. This is one of the highest (the highest?) divergences (to the downside) that I recall.
Weekly Poll: Pullback This Week?
- Thread starter shortie
- Start date
256 stocks hit new highs, 8 new lows on the NYSE on Friday.
That's very strong. It was this way all week long.
It's a breakout. Within the short time frame of a week, it's possible we could have a pullback, but not likely. Far more likely is a strong up week to squeeze the remaining bears.
That's very strong. It was this way all week long.
It's a breakout. Within the short time frame of a week, it's possible we could have a pullback, but not likely. Far more likely is a strong up week to squeeze the remaining bears.
Bullish unless rather pesimistic economic data is released. Trends rarely reverse without new opposing fundamental data.
ESD
ESD
Quote from shortie:
SPY is touching upper BB but SEMIs look like crap. Should not Semis participate in the a serous rally?
what would you prefer:
short SMH
long SPY
or
short SPY
long SMH
assume equal sizing
ESD
Here's the bullish engulfing on the daily 25 august. Imo, that was a strong reversal signal.
http://www.elitetrader.com/vb/showthread.php?s=&postid=2934439#post2934439
(Gotta love freestockcharts.com Hope they stick around.)
http://www.elitetrader.com/vb/showthread.php?s=&postid=2934439#post2934439
(Gotta love freestockcharts.com Hope they stick around.)