SPY Daily Fib Retracement The view that the bottom was put in on Jan 24, was optimistic, but not ridiculous. SPY made a recovery to 61.8 Fib line which is close to the 54 day moving average and is encountering resistance. The recent pattern with the gaps to minor highs is not very reassuring. This… Continue reading 2/10/22 – The Homestretch
Tag: qqq
10/8/21 The Homestretch
The bottoming tails for the last three weekly SPY candles show decent support above 425, but the intermediate trend is gently down. Each of the last five weeks have all made lower highs and lows. QQQ is pretty much the same except the downtrend is slightly more pronounced. On general principles, some kind of bottom… Continue reading 10/8/21 The Homestretch
10/4/21 The Far Turn
The view on Friday was a rather tenuous possible double bottom. Now it seems like the 52 week averages are in play. The SPY 52 week SMA is at 399. An excursion to there will fill the air suspension gap from the first week of April. Keep in mind, the major ETFs pay dividends later… Continue reading 10/4/21 The Far Turn
6/21/21 Broad Based ETFs Growth vs Value
After Friday's value drubbing, I was surprised to see an article pushing value stocks because they have doing so well. They are definitely more valuable this morning than Thursday for example. Personally, I'm a big value fan but sort of regard that as a weakness because growth consistently trounces value. About the best one can… Continue reading 6/21/21 Broad Based ETFs Growth vs Value
6/18/21 Quadruple Witching and Ex-Div
I was so excited by the Fed meeting, I didn't realize today was quad witching and the Ex-div situation is murkier than usual. Spy is Ex 6/19 (tomorrow), otherwise 6/22 is popular, IWM happened already. Brokers don't do a good job of adjusting prices. IT guys don't like to do it because it is a… Continue reading 6/18/21 Quadruple Witching and Ex-Div
6/17/21 The Homestretch
QQQ is making a new high. The first dip to 297 in March started Feb 16. The center ellipse is an interesting double top/slightly rising wedge. That played out the way one might expect, a two wave decline, with the pretty tag of the 18 day SMA marking the beginning of the second down wave.… Continue reading 6/17/21 The Homestretch
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
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