Wanted to share something interesting about cRSI indicator. Each time it crosses out of the top of the grey area, we see VIX shoot up big time after that. Surely, it relates to fall in market. I can see the cRSI hooking into the grey area from bottom. Within a day or two, it will be ready to pop out of the top of the grey area. I don't think we reach ATH. We...
Big possibility that we see a AB = CD pattern. In this form, we are yet to create the CD leg which will take us to 304 SPY and then we see a bullish move from there.
Expecting the tape to turn south after open. Only applicable for today.
bulls have taken the last major (and I mean major) resistance. They are consolidating on it today. I believe, they may lose it tomorrow, so a red day likely on Friday. Something will happen regarding a portion of the stimulus and the market will go bonkers on Monday and the week after. Likely reaching ATH.
We should see weakness over the next 2-3 days. Good time to pick up longs at discount.
I am not on doom and gloom side. We will see a correction that will be handled before we go 20% below ATH.
I don't think we trade out of this range till the earnings season is behind us. The Feb gap will remain the area of uncertainty while the market evaluates what's next. Too many headwinds and unknowns to continue the climb. Tech does not want to lead anymore.
The indicators show downside trajectory but the market will likely cycle through finance lifting GE up with it. Looking at the PSAR as the first target. Caveat emptor and good luck!
Expecting the market to gap fill by gapping over on Monday. The daily MFI and RSI are ready to paint divergence if the market does reach the gap from Feb. from then on, we should see weakness as profit taking ensues. It doesn’t matter if big money is taking nearly interest free loan from Fed to juice up the market. They have to sell to convert the paper gains to...
Title says it all. The MFI and RSI turned around. Lower low. More weakness I see in the future.
Expecting a Gap up tomorrow. Quite a bullish close.
We set a lower low than yesterday and closed below both open and close of yesterday. Daily MFI and RSI are overbought too. Would be bearish in normal markets. We could see a gap up tomorrow and go back to our usual programming but I would expect at least one more day of follow-through to downside. It is clear that this market will not go down. Fed has unlimited...