SLOPolarBear

SLOPolarBear Updated 

Not seeing any divergence of concern. The only negative input at this time is from those saying 'it's too high'. Well, it's going higher. Anticipating a breakout in the next 2-4 trading hours. That long shadow breaking below the wedge to the $376 range is the only discounts the market is willing to give up at this time. Tight stops, especially if we see a long...

SLOPolarBear Updated 

Friday afterhours traders didn't pump the SPY like they normally do. Perhaps they're looking at the same indicators I am and fearing an AM dump on Monday. Looking at the hourly chart, I'm expecting a modest and quick (shadow touch and bounce) pullback to $379.50. We're in a very strong uptrend that shows no evidence of breaking down. I've highlighted the major...

SLOPolarBear Updated 

Bulls showed up today. We've pierced thru a couple significant resistance levels in the past couple days. But will it continue? If we're going to go long at this point we want to see a big volume candle bust thru the cloud, pullback and bounce to continue the trend that's been developing over the past couple days. Momentum has been steadily rising over the past...

SLOPolarBear Updated 

I see these a lot in crypto charts. Look for a steep and rapid ascent in volatility with a sharp point and fast breakdown after the tip is formed. In simple language, short the market and buy the dollar thru the end of November, and anticipate a steep drop in volatility into December.

SLOPolarBear Updated 

if you pull up a 2-day chart of the VIX and analyze price action using a 200 period MA, you'll notice that price action NEVER creates a pocket of dead space between its moving average and the price action (see turquoise boxes), except prior to a period of major/increasing volatility. I've highlighted the present anomaly as well as the 2007-08 global financial...

SLOPolarBear Updated 

Slightly broadening descending channel saw price action deflected off the faster moving average on Friday - quite bearish. I suspect we'll see a replay of October 27. Bulls will try their hardest to break out of this channel. Given the week we're heading into, there will be very little fight and we'll see a continuation of the downtrend by the middle of the...

SLOPolarBear

There aren't a lot of stocks out there I'd be comfortable holding thru a 2nd or 3rd wave of a pandemic. This one looks promising. Looking for a bounce off of last weeks lows. There's a short term on-balance volume price action divergence. Taco Bell/Pizza Hut/KFC are all doing well enough while other food venues are being forced to shut down. The 2% dividend is as...

SLOPolarBear

Need to resolve On-Balance Volume Price Action divergence before gambling countertrend buys. We did see the breaks get pumped hard around $330, but that was also a major support. Volatily is high. Every day we inch closer to election, more investors grow weary about further losses to their accounts. Low is not in yet.

SLOPolarBear Updated 

I know a lot of bullish investors want to call this a bull flag. But a quality bull flag has tight price action, or at least PA that doesn't meander. The tight descending price channel seems like a good place for price to return over the next few days. It's the only region where PA has been consistent (tight) in the past week or so. Anything above this channel...

SLOPolarBear

The trend is your friend.

SLOPolarBear Updated 

I would not be bullish until we see this distribution wedge broken. Price action is misleading.

SLOPolarBear

I'd love to see some arguments why this is NOT a BEARISH descending triangle. Post away! Please reference more than one indicator/chart time frame. A bullish/bearish case may be made at any time using one point of perspective.

SLOPolarBear Updated 

The market tries to give hints about what direction it's heading by giving us pivot points. If we look back over the past couple months, we can see a point of confluence where price action looks like it got into a really bad accident. Immediately prior, it took a spill and formed an ascending triangle. The point of confluence is the juxtaposition of FANG (and...

SLOPolarBear Updated 

Well at first I was thinking this was going to be a gap-up Monday, but I'm thinking we'll see a retracement in the AM followed by another slow, low volume trading day. The market seems ambivalent to buy or sell, given the pending deal in Congress. I'm net short; if I get closed out tomorrow AM, planning to stay in cash for the remainder of the week, or until we...

SLOPolarBear Updated 

The finTwit press is a largely bearish crowd. They can't understand where all of the buyers are coming from to make the index go up, forcing them to cover their short positions. When all of the bears disappear (or become bulls), THAT is the time to short. Handle is extraordinarily bullish. Buyers absorbed all of the selling action and drove momentum up all day. I...

SLOPolarBear Updated 

Note the increase in momentum confirmed with RSI/CMF and MACD histograms (those silly after-hours traders mucked up the histogram, otherwise we would have seen a nice clean divergence line). Price action is at sensitive levels so this is not a place for the buy-and-hold crowd to open a position. For Ichimoku fans, future cloud is green with a slight bearish span B...

SLOPolarBear

The next 10 years are looking bleak. The fundamentals of small/midcaps has been on a long decline. Is it really that difficult to imagine a future where a handful of corporations manage all of the goods and services? Throughout the index, companies showing increasing debt, declining revenues, declining cash flows. Thoughts?

SLOPolarBear Updated 

Won't know if this is a continuation or reversal until we see strong volume pushing price above/below the handle formation, and holding. The daily/weekly picture for SPX is not as doom and gloomy as short sellers would like. A lot of investors want to see the upper channel of the multi-year trend channel tested once more before we go into full recession mode...