Consensus remains at xCC. The slight weakness early in the day did not close the Nov 23 gap where SPY closed at 357.46. The current discussion is whether that that gap will be closed before a move above the top of Mt Lameduck at 364.38. Theoretically the odds are based on where price is currently… Continue reading 11/30/20 – Afternoon Signals
Somewhat surprisingly the foxes are consensus xCC today. Somehow the SMA lines had their colors switched but the rectangle defined by Mt Lameduck is the significant current feature. I'm not expecting a sharp move higher from this area without more consolidation.
A little caution might be the an important virtue for December, but that doesn't happen until Tuesday. xCC or xFC look like the signals for the weekend. Trend following is still active.
Looks like a unanimous verdict of xCF. Long over Thanksgiving is usually pretty safe I think.
The first column in the Midday Signals post yesterday was wrong. The signals here are correct with 22 of the foxes long going into today. Action should be about half past dead for the remainder of the week.
Sounds a bit like the big guy is conceding and SPY has pretty much taken the summit of Mt Lameduck. Note, the dip below the yellow line was a head fake. The gapping nature of these advances makes things a little dangerous up here. Definitely a decent place to book some profits, but the foxes… Continue reading 11/24/20 – Midday Signals
It was such an obvious buy yesterday afternoon that I didn't bother to check the signals after the positive action into the close. I'm doing some Zmed1 analysis to account for the new strategies and think +9 might be a buy. Close to Open action puts SPY a little over half way up Mt Lameduck.… Continue reading 11/24/20 – Current Signals
The foxes remain bullish and properly so. A serious move down has to start with volatility. I'm one of the few people who can't predict volatility but, at the moment, it isn't here. The daily SPY chart shows the weighted price in green. The various moving averages are 21 days. Yellow = DEMA. Double Exponential… Continue reading 11/23/20 – Midday Signals
The mild weakness on Friday afternoon, modified the signals a bit but they still remained bullish. Rate of change (r) has been dropped. Weighted moving average and Double Exponential moving average (d) have been added. I needed a fourth letter for a technical operation, and r behaves slightly differently than moving averages. The two… Continue reading 11/23/20 – Current Signals
Sometimes playing xFF doesn't work out, but that definitely isn't an issue with these signals as there is no xF in sight. Trend following remains active as it has since the end of October. Seems like a decent place for a long term investment (holding over the weekend). Famous last words.