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fib_1618

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Reply with quote  #1 
Are now up and can be reviewed by clicking here.

BETS +40: Hold Longs with Protective Bearish Stops (below market)

Fib

[bets090916]

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doc

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Reply with quote  #2 
Two 90% down days out of the last 3 trading days and TRIN over 3 on Tuesday. Recipe for a bounce at least on Wednesday.

All the best,
Doc
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hiker

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Reply with quote  #3 
1. September 14, 2016 represents the first daily close below the $NYA daily
50,2 lower Bollinger Band by a noticeable distance since late June.

2. the NYSE A-D breadth line continues to test an important moving average,
as shown in the chart below:

NYSE A-D line - September 14, 2016 - testing the 39dema.png 


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doc

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Reply with quote  #4 
Well nice bounce in the morning that faded by the close. Somewhat strange given the context and the points I made not to mention that we should have the bullish bias of QUAD expiry on Friday. We are clearly oversold on the NYA as Hiker pointed out (the BB was not shown on his chart, but he is accurate) but the internals are testing support via the NYAD. Also the NYSI is healthily positive. 

Yet the market did not rally today as expected from these technical circles. That gets my attention. As Linda R has said, when the market does the opposite of what the technicals support, pay close attention as that is a very important message. 

For now, we will pass it on to a hiccup today. But if we don't rally decently tomorrow and into Friday, then something is rotten in the state of Denmark. Watch out.

Doc
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