Red

GS is dancing with both grey & purple lines,
GS likes to gap around it's grey containment pt.
if GS closes below those 2 today, the open on monday will be crucial, I've seen the operators throw the algos off by closing below containment only to gap above it the next day

HOD & LOD should be in on the $SPX so that's good news for the bears as we'll close above 1171.23

Anyways, I have a feeling we close above the open.

Thanks Earl of. Is kind of comical. That's the thing is anyone (except for me) can do well in a trending environment but once that changes people don't know which way to go.

The Daily view from Americanbulls

TNA had been a WAIT, but was up today and now has a highly reliable BUY-IF signal (possible buy Monday morning).

The last sell was at $55.61. TNA closed today at $55.95, up 0.6% since the sale. The candlestick today High Wave (indecision in the market). The last two candlesticks formed a highly reliable bullish reversal: Bullish Kicking Pattern.

TZA remains a HOLD. The buy price was $7.04. TZA closed today at $6.98, down 0.86% since the buy. The candlestick today was a doji (dug-of-war between the buyers and the sellers).

I suppose this might pass for technical humor: It’s quite possible, should TNA qualify for a BUY tomorrow, that AmericanBulls might be advocating the ownership of both TNA & TZA at the same time.

Two recent TZA Buy signals have failed and may perhaps serve as a warning:
Buy at $7.33, sell at $7.14
Buy at $7.11, sell at $7.05
Buy at $7.04, now down 0.86%

For that matter, recent TNA Buy signals have also been uninspiring:
Buy at $55.36, sell at $55.43
Buy at $55.69, sell at $55.63

Summary of $RUT based ETFs & a few popular ETFs (Market positive):
Wait: DRV(-3x), SRS(-2x)
Hold: DRN(3x, down 1.2%),

Market Transition:
Highly reliable SELL-IF (2nd Day):DIA, QQQQ, IWM(1x), UWM(2x), [all Bearish Kicking Pattern on the 1st day]
New Highly reliable SELL-IF:RWM(-1x), TWM(-2x) [ both Bearish Kicking Patterns ]
New Highly reliable BUY-IF: TNA(3x) [ Bullish Kicking Pattern ]

Market Negative:
Wait: URE(2x), IYR(1x), SPY
Hold: DTO(-2x oil, down 11.67%), TZA (-3x, down 0.87% )

I suppose this also might pass for technical humor: DTO is down 11.67% since the buy with a HOLD signal still. Not sure how far it can go down before AmericanBulls comes up with some sort of sell signal.

Comment: more market positive than yesterday
Action for Monday: Possible buy of TNA

$VIX now has 8 consecutive lower weekly closes than opens

In the last 249 weeks, VIX has no sequences longer than 8 consecutive lower weekly closes

1 occurrence of 8 which terminated on 11/13/06

$DJI currently has 5 consecutive higher weekly closes than opens

in the last 249 weeks, 4 out of the last 6 times $DJI had 5 consecutive higher weekly closes than opens it provided a reversal

that's a good laugh

TNA opened up 2.4%. Gap was filled. TNA was up 3.9% at the high, and closed up 2.6%.

We are now in a Full Moon Trade, which tends to favor TNA.
AmericanBulls had TNA with a WAIT signal yesterday, so this trade was in cash today.
Will buy TNA when AB has a confirmed BUY signal (which might be Monday morning)

Volume for TNA today and the other days this Holiday Week were the 4 lowest of the last 18 days.

$RVX (VIX for $RUT) was down 0.7 % today with TNA up 2.6%. No divergence.

TNA has now been up 3 of the last 7 days. Chop. Neutral for TNA.

The high for TNA four days ago was $58.23, the highest TNA price since November of 2008. The high today was $56.65, 2.7% below that high.

Ultimate Oscillator for TNA fell from 39 to 37 today, a divergence as TNA was up 2.6%. UO has been below 50 five of the last six days. Indicates (screams) weakness for TNA. Bad for TNA.

MACD on the monthly chart crossed over downwards five days ago and is moving down. Bad for TNA.

Bollinger Bands for $RVX (VIX for $RUT): today’s white candle closed mid way between the Bollinger mid line (20 day MA) and the top band, somewhat above an area of congestion. MACD has crossed from below and is rising. Looks like $RVX might be rising. Bad for TNA.

Bollinger Bands for $RUT: The small white candle for $RUT is in the congestion area. The top Bollinger band is falling, and $RUT seems to be in a mature topping formation. MACD has crossed down. Bad for TNA.

Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s black candle is at the bottom of the congestion area. The upper Bollinger Band is rising. Looks like the topping process is continuing. Bad for TNA.

TNA had a lower high, lower low and much high close – bad for TNA.

Money flow for the Total Stock Market was $1,809 million flowing into the market. Bullish – good for TNA.

I will post the AmericanBulls candlestick interpretation a bit later.

Overall, it looks bad for TNA for Monday.

Just got back gang. I had to leave to do a job about 1-2 pm. Did I miss anything? Are we crashing next week? Man… I hope so…

I bet the farm last time, and have been living on the street since. This time I sold the wife, kids, and dog. Got $6.00 for the dog (he was a good dog. I'm going to miss him). Got .60 cents for the kids (they are just too lazy these days). Got .06 cents for the wife (the loan shark said she's too worn out now).

So, I took my $6.66 and shorted with my last breath. At least I won't lose much this time….

😀

lol, McFlurry please

the good news for the bears is the setup on AAPL daily says Monday is down