Just Like clockwork...

[daemon]

In my opinion Ciovacco is the only calm, sensible and fact-based person out there. Been watching his weekly videos for the last 4 years. His videos are of high quality. He tends to lean optimistic but he will let you know when it's concerning too. Highly recommend.

Hammer candlestick on the Weekly charts (Nasdaq and S&P) this week of Feb 27 - March 3. This is typically a bullish signal.

[wingchaser]

FOMO kickin’ in…

Continuous Up-days CONFIRMATION that stocks may have propensity for added short-term gains…

Best of Luck (everyone) in all you choose to endeavor!!!

[jatelle]

In my opinion Ciovacco is the only calm, sensible and fact-based person out there. Been watching his weekly videos for the last 4 years. His videos are of high quality. He tends to lean optimistic but he will let you know when it's concerning too. Highly recommend.

Hammer candlestick on the Weekly charts (Nasdaq and S&P) this week of Feb 27 - March 3. This is typically a bullish signal.

Yes, I second that! He is my go-to-person. He is optimistic about this current rally. We shall see...

[Midway]

Who is Ciovacco and where do we find the videos?

[jatelle]

Who is Ciovacco and where do we find the videos?

You can find him on Twitter and YouTube:
https://twitter.com/CiovaccoCapital?ref ... r%5Eauthor
https://www.youtube.com/user/CiovaccoCa ... pp=desktop

[wingchaser]

Not sure how much validity I’d put into today’s market gains…

S Fund had its bottom fall out!!!

https://www.cnbc.com/2023/03/05/stock-m ... dates.html

Best of Luck (everyone) in all you choose to endeavor!!!

[bloobs]

I guess the bond market was right...like always.

https://www.investing.com/news/economy/ ... ed-3024091

[ripp002]

I guess the bond market was right...like always.

For today anyway. This market seems to shrug off any negatives in a matter of hours, to days....

[wingchaser]

“Down she goes”, S&P dips below the 50-Day SMA & now has the propensity to drop even further…

https://www.cnbc.com/2023/03/06/stock-m ... dates.html

Best of Luck (everyone) in all you choose to endeavor!!!

[jatelle]

Today was a Bearish engulfing candle. The 100 SMA is poised to cross above the 200 SMA. Not that history repeats itself..... but the 100 SMA crossing above the 200 SMA on the following dates has led to sustained rallies: Aug 21, 2009 and Jan 10, 2011, Jun 9, 2016 (10 days later), July 9, 2019 and Oct 20, 2020. Just a coincidence? Perhaps....

Price broke through the 50 SMA and is heading down to re-test the 200 SMA and 100 SMA converging at about 393 where it will likely bounce.

[12squared]

Following a brief uptick last Friday, NYSE breadth momentum resumed its decline Tuesday after failing to flip PSAR indicators (0.02,0.5) & (0.05,0.2). It also failed to breach its 10 day MA – which has served as a resistance/support boundary over the past several cycles. As on 4-6 May 22 and 20-21 Apr 22, markets rallied sharply, then quickly reversed.

NYSE breadth 8Dec22-7Mar23.png

NYSE breadth 1Mar22-1Jun22.png

History may not repeat, but the current stanza rhymes pretty well with those from last spring.

[jatelle]

Following a brief uptick last Friday, NYSE breadth momentum resumed its decline Tuesday after failing to flip PSAR indicators (0.02,0.5) & (0.05,0.2). It also failed to breach its 10 day MA – which has served as a resistance/support boundary over the past several cycles. As on 4-6 May 22 and 20-21 Apr 22, markets rallied sharply, then quickly reversed.
NYSE breadth 8Dec22-7Mar23.png

NYSE breadth 1Mar22-1Jun22.png
History may not repeat, but the current stanza rhymes pretty well with those from last spring.

Yes, it sure does rhyme! SPY appears to be heading down further before it goes back up. A logical support would be around 394 before bouncing back to retest highs. Note: the 100 SMA has not yet crossed above the 200 SMA so unlikely to be any sustained rally until that happens....

[wingchaser]

Likin’ (both) candles for C & S Fund, especially after recent downsurges…

Reversal? That is a definite “maybe”…

https://www.cnbc.com/2023/03/07/stock-m ... dates.html

Best of Luck (everyone) in all you choose to endeavor!!!

[jatelle]

@CarsonResearch cycle composite suggests some consolidation here in March. But promising outlook ahead with a projected 15.6% growth by end of year.

[jatelle]

Argus report: It is note worthy that the S&P advance-decline has broken its uptrend but not on closing prices. "Something's got to give soon!"