Commentary

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

Commentary

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