Summary:
The common believes are that the bigger picture is up.
Expect a short-term pullback.
| Trend | Momentum | Comments - Sample for using the trend table. | |
| Long-term | Down | Idea for trading intermediate-term under primary down trend. | |
| Intermediate | Up | Overbought | |
| Short-term | Up | Neutral |
Nothing new to say. The chart below is what I understand that most believes, just the price target and the time target are my best guess.
I have no idea whether the common believes are true or not. Just the “vacuum” between NYADV and NYUPV in chart 0.0.3 SPX Intermediate-term Trading Signals still gets me worried, though it’s not a reason to short, but personally I won’t long if I don’t see a little bit bigger pullback.
Short-term，After Bell Quick Summary has mentioned a possible red Monday. In addition, here are 2 reliable signals.
T2103 Zweig Breadth Thrust from Telechart, overbought.
T2122 4 Week New High/Low Ratio, overbought.
Besides, 1.0.2 S&P 500 SPDRs (SPY 60 min) and 1.1.0 Nasdaq Composite (Daily) have too many gaps, so I still believe at least one gap should be filled within a short period of time. The Tech Bullish Percent Index as shown below again hit almost new high now, so at least Nasdaq has a better chances to fill at least one of its gaps.
