If you don't just put your money in the market and forget about it like a normal and happy person, it is pretty important to avoid crap like this. The action around here can still be bottoming, but SPY is a bad day away from the 319.80 recent low. If that is penetrated, then 310… Continue reading 10/30/20 Heading Toward YTD Break Even
Month: October 2020
10/30/20 Current Signals
The late afternoon action yesterday just got too ugly, despite the fact that it was in a positive direction and that turned the signal into x30. Prices rallied to the top of the former Island bottom gap, briefly engulfing the body of the previous day's candle. No doubt driven by pending important tech earnings which… Continue reading 10/30/20 Current Signals
10/29/20 Late Afternoon Signals, x30
Continued strength has made the signals considerably less bullish with a preponderance of x30.. While trend following is active, playing this as a breakout now without some kind of pullback seems risky.
10/29/20 Mid Afternoon Signals
At the moment, the non trend following foxes are in agreement with the trend following branch of the family. M13m21, the long term profit champion, was long going into today, while em13, the legacy champion, sat the day out and thinks it will buy at the close. The shorter term guys think this is x30.… Continue reading 10/29/20 Mid Afternoon Signals
10/29/20 – Back on the Island
The SPY weekly chart has a green horizontal line highlighting the activity around the important 320 level. This marked the low of the September decline suggesting support, and an area of resistance for the spring rally. SPY currently sits at a slightly less significant support/resistance level. It seems inevitable that there will be a test… Continue reading 10/29/20 – Back on the Island
10/28/20 – Midday Signals, Island Gap Closed
Basically, x30 is flipping to x03. x03 isn't real horrible to buy here, especially with Zmed1 trend following active. Pretty cool, SPY gapped down to the top of the Island Bottom gap and immediately filled it. Technically, we are in a decline of at least intermediate strength. The deformed left shoulder on the month and… Continue reading 10/28/20 – Midday Signals, Island Gap Closed
10/28/20 – Current Signals, Island Bottom Gap In Peril
The negative action overnight has taken out the steroid stimugap, leaving SPY is sitting on top of the Island Bottom gap. Island bottoms are rare but almost never work out, SPY tried to run away from it, but it couldn't hide. My wild guess is that the market is freaked out by the transition after… Continue reading 10/28/20 – Current Signals, Island Bottom Gap In Peril
10/27/20 – Mid Afternoon Signals, Smells like x30
x30 is the worst performing signal, but it does fine if trend following is active. Zmed1 begins to trend follow if 5 or more of the other 26 strategies are doing it. Zmed1 trend following hasn't been active for several months. There is a possibility that Zmed1 trend following will be active today based on… Continue reading 10/27/20 – Mid Afternoon Signals, Smells like x30
10/27/20 – Current Signals x0x
I haven't been looking at actual signals much lately as the focus of my research has shifted. In any case, the implications of x0x are clear. The only buy signal that can come out of x0x is x00. It's not terrible to be long here, but anything other than x00 has a negative long term… Continue reading 10/27/20 – Current Signals x0x
10/26/20 – Midday Signals, Broken Neckline
Today's action has broken the 341 neckline and is threatening to close the Steroid Stimugap created Oct 6 -7. The Sep 28th gap which created the rare Island bottom probably has to be closed at 328.73 before I stop talking about it. That is still 10 points south of the current SPY price. Probably that… Continue reading 10/26/20 – Midday Signals, Broken Neckline
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