I am liking this action. Russell 2000 just broke beneath its intraday low. Currently in bear flip mode. breadth very negative so definitely McOscill goes negative / no bounce at the 0 line. Very good for follow through momentum. Just loaded the boat again mostly inverse Nasdaq. ……
This rally had a limited shelf life with the expiration date about to come due based on an esoteric indicator. This time I really had to fight my gut to put on these positions. (I put some on the last few days also)….
Red, your buddy Ron Walker is getting quite exuberant on the bearish side; he’s starting to compete with Anthony Allyn as most outlandish bear. Check the annotations on his public charts. It’s pretty hilarious.
Late start today, looked at NUE long.
http://zstock7.com/?p=3376
Love the close. Numerous bearish indicators coming in. Big down day at the close for tomorrow………..
S&P 500 analysis after closing bell
SPY FP 113.40 on Quote Tracker
McClellan Oscillator never went negative during those 3 day pullbacks in July-August rally nor came close to the o line.
I am liking this action. Russell 2000 just broke beneath its intraday low. Currently in bear flip mode. breadth very negative so definitely McOscill goes negative / no bounce at the 0 line. Very good for follow through momentum. Just loaded the boat again mostly inverse Nasdaq. ……
This rally had a limited shelf life with the expiration date about to come due based on an esoteric indicator. This time I really had to fight my gut to put on these positions. (I put some on the last few days also)….
Red, your buddy Ron Walker is getting quite exuberant on the bearish side; he’s starting to compete with Anthony Allyn as most outlandish bear. Check the annotations on his public charts. It’s pretty hilarious.
S&P 500 hour chart analysis
Correction… now we hit the target.
Looks like we came close enough to our FP today. I expect tomorrow too be an UP day.
Apple is finally selling off, so that’s good sign for the bears.