A man with a rope around his neck doesn't always hang, but this is not a great place to be extra long over the weekend. The x00 long signal yesterday was accompanied by positive afternoon price action going into the close: The ellipse shows the 1:30 candle making a low followed by a strong upward… Continue reading 3/5/21 Afternoon Signals x30/c2>o3
Author: Josef Friedman
3/5/21 Current Signals x00/o0>c2 Specter/FF5 Methodology
Since my plan was to play x00 CO before yesterday OC happened, it made sense to follow through despite the obvious points against it. In chess, there is a saying that even a bad plan is better than no plan. TNA and FAS are tied for the best 63 trade day performance since December. UDOW… Continue reading 3/5/21 Current Signals x00/o0>c2 Specter/FF5 Methodology
3/4/21 Longer Term Levels
The monthly SPY chart highlights the current triviality of this decline. The 13 month simple moving average is going to lose the March 2020 candle soon and its slope is becoming steeper. A move to 360 would take out the December low but just touch the November 2020 high. If things get more serious, the… Continue reading 3/4/21 Longer Term Levels
3/4/21 Current Signals xLH/o0>c0 or c2
It was tempting to take a long position into the Thursday morning numbers. QQQ broke through the imaginary line at 312 yesterday. The low for 2021 is around 303. A rising stock price is normal, so x day highs will generally be after x day lows, especially when x gets larger. A low after a… Continue reading 3/4/21 Current Signals xLH/o0>c0 or c2
3/3/21 Afternoon Signals xLH/o0>c0 Dueling Necklines
The 30 minute chart shows a multiple top and bottom formations. The little rally off the morning low managed to touch the neckline. Longs want this structure to hold. This is a natural buy point if today's low holds, but that seems shaky. We are getting more Middle and Lower Cycle FF5s signals. If the… Continue reading 3/3/21 Afternoon Signals xLH/o0>c0 Dueling Necklines
3/3/21 Current Signals xMM/o2>c2 or c0 – 3x Splits
TECL has been added to my 3x Bull list. TECL and SOXL had splits yesterday. SOXL was becoming difficult to trade in round lots at share prices well north of $500. TECL seems to be similar in makeup to XLK. They are both now priced around $40. SeekingAlpha didn't adjust these prices until late yesterday… Continue reading 3/3/21 Current Signals xMM/o2>c2 or c0 – 3x Splits
3/2/21 Current Signals xHL/o3>c1
xHL did come to pass yesterday. The cQuatz looks like c1, with a small negative return probable from CO. The quatz logic has "worked" since about the beginning of 2020. The cQuatz looks "better". The analysis seems to show that equities, in general, follow SPY CO but then sort of do their own thing OC.… Continue reading 3/2/21 Current Signals xHL/o3>c1
3/1/21 Afternoon Signals x30(xHL)/c2>o3
If prices don't deteriorate too much this afternoon the signal could be treated as xHL. Both of those have been playing OC well lately in any case. There is some consensus for being long through the close tomorrow. IF CO is negative c2 will happen which is a buy but that conflicts with x30 which… Continue reading 3/1/21 Afternoon Signals x30(xHL)/c2>o3
3/1/21 GME
There was a SeekingAlpha story on GME awhile back that was headlined "Charts Useless..." I commented that was a dog bites man headline, "Charts Useful..." is the man bites dog arrangement. 40 was obviously an important number after the January decline, just because of the five days it hung around there in mid January. The… Continue reading 3/1/21 GME
3/1/21 Current Signals x00/c2
On 11/24/20 an investor might have looked at the three month numbers starting from 8/27 and decided to buy IWM and IJH because they had the highest CC return. That would have worked. However, they are the worst performers in the 63 day period prior to 8/27. In this case, the decision was a pleasant… Continue reading 3/1/21 Current Signals x00/c2
