StockFetcher Forums · Stock Picks and Trading · Market Sentiment<< 1 2 3 >>Post Follow-up
johnpaulca
11,296 posts
msg #119321
Ignore johnpaulca
5/2/2014 2:36:08 PM

I don't trade Friday afternoon cuz it's mostly a snooze fest.

guspenskiy13
976 posts
msg #119955
Ignore guspenskiy13
modified
5/19/2014 6:08:56 PM

A comprehensive review for tomorrow:

Confirmed bullish harami patterns for both SPY/QQQ.

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QQQ broke 61.8% retracement of the last move and it's 31 cent away from 66.6% retracement and high of 5/13. If it breaks it, it

will be the highest high since 4/4. CCI(7) bottomed at 0; RSI(2) reversed at 18. It also bounced off support.

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SPY was 3 cents away from 61.8 retracement of the down-move from the all-time high. It also bounced off support.

RSI reversed at 13; which was the common spot for last 1.5 months. CCI(7) bottomed at -62 and almost crossed -11.

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VIX has a micro-gap below. It will bounce of 12, so that is a good spot to watch.

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BB's contraction, buy signal given on Friday is still in play. We might get squeezed tomorrow and get a sell on Wednesday.

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10-day LRC: near 50%
5-day LRC: near 75%
2-day LRC: in between 25/50%

Below EMA(150); stayed below EMA(150) for the most time today excluding some pops.

________________________

Conclusion:

IMO we are seeing more highs tomorrow; QQQ is about to make a 1 month high and break 66.6%; SPY is also near

61.8 and 66.6% retracement levels. Both bounced off the trendline, both have more room in RSI(2) to go further. However, VIX

is very close to support (12) and MA's are approaching - a reversal in this momentum might not be too far away. 60-minute

ratio still has a buy signal, but BB's are clearly squeezing.

My guess is that tomorrow will either be a decent rally (QQQ will push hard) that will sustain or might sell off and become a

doji day. I would look for support in terms of (VXX)/(SPY) near 75% 10-day LRC and 100% 5-day LRC.


Historical gap fill stats for SPY:

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guspenskiy13
976 posts
msg #119963
Ignore guspenskiy13
5/20/2014 11:54:32 AM

QQQ touched the high 1 cent away and bounced;

QQQ +0.25%

SPY -0.17%

IWM - 1.1%

should have included Russell in the analysis, fkin small-caps are holding us down

novacane32000
273 posts
msg #120981
Ignore novacane32000
7/9/2014 9:06:59 AM

Today's bloomberg ticker stated SP500 stocks have the lowest short interest levels since 2006. Interesting!

StockFetcher Forums · Stock Picks and Trading · Market Sentiment<< 1 2 3 >>Post Follow-up

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