The chart posted is the RSP index for the SP 500 equal weight index . last week I said it needed to rally still in a 5th up. I am waiting for confirmation of the End of the 5th .It is a 5 wave rally as I said at the oct low major short squeeze . I do see this as the end of wave B just above the 2022 top . This is the bearish wave count.. The Alt would then...
All models are in very very deep over sold and the NYSI is nearing the 500 area this is what I had hoped for . the markets are now ready to Squeeze the last of shorts and trap most every bull on this next move . The NYSI will setup a perfect NON -CONFIRMATION
The 20 hr moving avg on the 2hr and 4 hr bar has now given me a BUY signal as traders have run to the otherside of the BOAT from greed to fear in a very short time I am now 50% net long from a 100 % short do not be short until jan 11
AMEX:RSP vs AMEX:SPY Equal weight vs regular #SP500 We can see that equal weight has been performing better Russell 2000 TVC:RUT is no longer stuck in a rut :) It had a fake breakout in the daily charts in August but look at it now. That weekly is looking Nicely! We've stated a few times that we believed these 2 would be moving better than normal...
The AMEX:SPY is underperforming AMEX:RSP (equal weight SP:SPX ). This means that underperformers could very well pick up the slack & outperform the Big 7 going forward. They have been performing well. The Volatility Index TVC:VIX is down on the day BUT up from open. Will the moving avg's push it lower or do we get some sort of support here? This is a...
Good Evening everyone. While AMEX:RSP , equal weight AMEX:SPY , did well recently, the ten largest stocks are now making up more than 30% of the CBOE:SPX , wow! However, it's been at a higher percentage than that before. 1999/2000 & in the early 90's, was around 40% TVC:VIX hit a new low and it is likely hitting MAJOR SUPPORT, solid yellow line. #stocks
AMEX:RSP chart analysis/mapping. RSP ETF rally representing S&P market breadth - offering legitimacy to overall market strength & further indication of healthy stock rotation, instead of "Magnificent 7" concentration. Trading scenarios: Continuation rally #1 = ascending trend-line (white) / descending trend-line (light blue) confluence zone. Continuation...
NASDAQ:NDX looks a little short term toppish. Look at weekly NASDAQ:QQQ ; Considering that the Nasdaq 100 went higher the RSI is much lower than previous top. Shows a serious slowdown in momentum. Ditto for CBOE:SPX However, the equal weight AMEX:SPY seems to have some room to go. AMEX:RSP
The chart posted is the IWM Russell 2000 tracking etf . As the forecast called for an ABC rally back to just above 181 we should now see a 3 wave decline to about 171/165 focus on 167 area over the next 2 weeks and then rally in a 5 wave structure from that low about dec 4 to the 10 th low into a peak at .618 at the 185.7 to 187.10 area about dec...
Charting is amazing. The excitement it gives me is far greater than the satisfaction a good trade could ever give me. It is easy for me to state this fact since I don't trade. I consider the stock market as a super-long-term strategy. A strategy that lasts for generations, not a career. After all, the most wealthy have ancestors heavily invested in the stock...
Not all is equal. And nothing is static. Entropy is the foundation of our world, and it is the bane of a rich man's existence. You collect in one spot, then nature comes up and spreads your work around. Entropy is the unbeatable power of justice. In the end entropy always wins. One has limited amount of time to temporary evade it. Panta Rhei - Heraclitus...
The chart posted tonight is the Equal weighted SP 500 So far this is the cleanest wave structure of all the indexes and as of tonight I can say this is my Preferred wave count and should be the guide going forward for the next 6 to 9 months . So The rally from the oct low of 2022 rallied in a abc x abc for the students for the rest of you it was a...
AMEX:RSP This chart becomes significantly crucial if the trend line is breached. "trend line break" refers to a situation where the price of an asset moves beyond or crosses over a trend line that has been drawn on a price chart. Trend lines are used to represent the direction and strength of a trend in a market. A trend line break can signal a potential change...
Barely more than a week we stated that RISK in #equities was INCREASING. We also gave our thoughts on some #indices . Let's see what has happened since that post: NASDAQ:NDX has cooled off - check TVC:DJI pumped since then - check Likely topping out short term here though. TVC:VIX has been trading sideways - check Does seem like it's beginning to gain...
Equal weight AMEX:SPY is outperforming the regular CBOE:SPX #Index again AMEX:RSP We mentioned not long ago that the big names that ran were struggling a little recently. Money Rotation? TVC:RUT could do a lil better. Not participating as much. But it's nice to see AMEX:RSP doing better than normal #SPY. TVC:VIX heading lower gain #CPI Tomorrow
Looks like the idea of BTD (Buy the Dip) is still in place. IMO not enough EUPHORIA for "crash" (like many are calling). AMEX:RSP (equal weight SP:SPX ) was outperforming AMEX:SPY but that is no longer the case as of yesterday. TVC:RUT AMEX:IWM also lagging but the chances are that it will likely catch up in time. #stocks
The weekly chart (on the bottom) shows that SPY and RSP were highly correlated until early March. After March, we have seen the two separate in YTD returns. The correlation coefficient confirms this break in trading. The breakdown in correlation between the RSP and SPY is most evident between May and June when RSP lost value and SPY gained value. In the last...
AMEX:RSP = equal weight SP:SPX We see that volume has been very good AMEX:SPY is underperforming it & that is a good sign NASDAQ:NDX underperforming as well This means money is moving around & every one gets a chance to play AMEX:IWM TVC:RUT has legs, call that it would break out was good It also had great volume a few days ago IMO #Stocks have what...