Every day with a positive return is a good day. IWM is having a nice day. It is only four months into loitering at this level and it is not clear why anyone would expect the next few years to be much different, at least from a perspective of immediately going a lot higher. The… Continue reading 5/26/21 The Homestretch – IWM
Month: May 2021
5/25/21 Current Signal xFF
As expected the resistance at 417 proved not very formidable as SPY consolidated near that area Friday and easily poked through on Monday. Setting a new all time high is close to a sure thing because of how close it is. The study shows that CO13 and OC13 have gone in the opposite of their… Continue reading 5/25/21 Current Signal xFF
5/21/21 Current Signal xHL
SPY has bounced off the air cushioned support line at the 54 day SMA at 405 and is now threatening to move above resistance at 417 which is near the 18 day SMA. SPY has bounced off the air cushioned support line at the 54 day SMA at 405 and is now threatening to move… Continue reading 5/21/21 Current Signal xHL
5/20/21 The Homestretch
SPY isn't too far from doing something positive like poking above 417,49. The air cushioned support at 404 should probably be given a little respect. QQQ has looked good, already making an eight day high with a reasonable looking double bottom at 316. The 18 day SMA is a downward sloping trendline, which might be… Continue reading 5/20/21 The Homestretch
5/20/21 Current Signal x00
The 50/100/200 return study shows the couch potatoes in their usual top position, and with growth beating value. Note how well the value dogs SPLV and USMV play OC while getting hosed CO. Playing the 3x Bulls OC is really a waste of time and money. Note how the UDOW tOC loss of 0.20 ranks… Continue reading 5/20/21 Current Signal x00
5/19/21 The Homestretch
This is an unusual retest of an unusual air bottom. There was a little bounce around 406, no doubt helped by poorly positioned stop orders. The couch potatoes are also showing some support at a place that at least makes some technical sense. IWM has deserved little commentary, as the past four months show more… Continue reading 5/19/21 The Homestretch
5/19/21 Current Signal xLH
The failure of the 2nd consecutive Thursday/Friday rally seems about to go from foregone conclusion to official, just in time for a third consecutive rally attempt tomorrow. Value is dominating growth in all three Yrmolation periods with SPLV and USMV lagging among value ETFs. SPLV pays monthly dividends, but I don't think investors expect it… Continue reading 5/19/21 Current Signal xLH
5/17/21 The Backstretch
There was little doubt that the latest edition of a two day rally would at least stall here just below the important 417.5 level. The rally was quite similar to the May 6 - 7 rally in response to the little dip to 411. The support at 404 is literally resting on air. With all… Continue reading 5/17/21 The Backstretch
5/14/21 Current Signal x30
x30 is the weakest signal but that is because it has been failing during serious declines, which this doesn't seem to be. There is no law of the universe that says a new high couldn't be made from here. However, the low of the down move found support at the top of an important gap,… Continue reading 5/14/21 Current Signal x30
5/13/21 Cycle Analysis 3x Bulls
Today is the first day in the Lower cycle in at least the last 31 days. The single descent to the Middle cycle before yesterday was contained there. The two xHL days occurred consecutively last week, the second one being the first candle of the two day sucker rally into the weekend. Ordinarily we would… Continue reading 5/13/21 Cycle Analysis 3x Bulls