I see good chances a rebound tomorrow as the short-term model from www.sentimentrader.com is way too oversold.
A clear Double Bottom is formed on the SPY 15 min chart so the rebound target could be $88.72.
Just tomorrow will be the end of a 7 trading day cycle so if the market does rise then probably it will be down the day after.
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thx. ding
ReplyDeletewhat is the 7-trading cycle rule? Thanks
ReplyDeleteCheck the last chart for the 7 trading day cycle marked by the cyan vertical lines.
ReplyDeleteI do not understand:
ReplyDeleteyesterday at the close the market was NOT oversold.
Today we finish near the same levels, and suddenly the market is "way too oversold" ?
Thanks for this nice blog anyway !!!
Price level doesn't tell the oversold level.
ReplyDeleteYesterday was not oversold in short-term (a few days term) while it was already oversold very short-term (means an intraday rebound which we did get it today). Now very short-term is very oversold and short-term is a little bit oversold.
Do you think we will finish the SHS pattern ? More down next week? thx !
ReplyDeleteAnonymous 3:39:
ReplyDeletego to http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis
H&S is still valid.
ReplyDeleteThanks!
ReplyDeleteThanks for your blog. Much appreciated.
ReplyDeleteha,you find time zone la .
ReplyDeletei use it for a while, sometimes it doesn't right
sometimes. it works.
the key point find the first zone first.
I think all your rules are useless. I have been following your blog for some time...and your tips aren't helping at all. Thanks for the time you spend writing but...you should build your blog on something else...
ReplyDeleteI'm saying this : I am talking about what you were saying these ast days...but it was the same thing when you were seeing the end of the rebound everyday a fex weeks ago (in may ?)...
Trouduc, all I can say are I'm still learning. Regardless how useless you think I'm and will be, I work hard that's all I need to know for myself. I've been sick for 2 weeks now, but never did I miss any of those useless reports. Don't you think hard work can eventually change something even I might be the most stupid man in the world?
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