Commentary

3/18/21 Afternoon Signals

The tables go back 31 days. cCC etc. stands for current CC * 100. Note the growth ETFs are negative and value is positive. This divergence is quite unusual in length and strength, at least the part that includes weak couch potatoes and strong smokestacks.

RR is now just based on OC, it is the return for investing at the (high + low) * .5.

J. Wells Wilder Jr. is one of the top technical analysts of all time (not to damn with faint praise). He invented the average true range for commodities. My latest thinking is that this is wrong for stocks; the broad market fuels the opening gap. OC performance is more attuned to the prospects of each individual equity.

Today’s action suggests that a move to the important 311 area for QQQ is getting more likely. There is no point to immediate bottom fishing.

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