Small gap up. Statistically, any small gap up or down open next day after a Major Accumulation Day is very likely to be filled and the day tends to be flat. Well, let’s wait and see.
I don't do day trade now. I just post some intraday charts in my Chinese forum to keep up conversation. Because usually a day's tone is almost determined by opening so I thought it might be useful to post the opening comment here. These days are very unusual which seems that all the past statistics do not work anymore but there's no way for me to know ahead so I still have to post the past statistics.
I use SPY 5/15/30/60 min chart to post my intraday comments. SPY 5min chart is my main chart though.
After 10:30am ET if there's new intraday high then it could be an up trend day according to www.sentimentrader.com. Not sure that statistics fit for small gap or not though.
EW Guy, see my 15 min SPY chart, updated realtime. SPY just bounced from the last Friday's consolidation area. The rebound so far looks weak. 30 min SPY chart gets updated too, you can see where Fib 23.6 is now which is around 102.59 on SPY.
EW Guy, if you don't have Stockcharts.com realtime services what you see is 20 min delayed. So actually in realtime, I simply post screenshots on my forum - Nothing serious though, just a method to keep conversations on my forum.
Cobra - Thank you for letting me know. I have StockChart Subscription but I never had their real-time service. Now, it makes sense to have real-time service.
EW Guy, if you want real-time service simply because you want to see my real-time chart then I think it's unnecessary as I don't update real-time very often.
Do you trade every day Cobra!!!
ReplyDeleteOn what technical charts you base your trading every day?
I don't do day trade now. I just post some intraday charts in my Chinese forum to keep up conversation. Because usually a day's tone is almost determined by opening so I thought it might be useful to post the opening comment here. These days are very unusual which seems that all the past statistics do not work anymore but there's no way for me to know ahead so I still have to post the past statistics.
ReplyDeleteI use SPY 5/15/30/60 min chart to post my intraday comments. SPY 5min chart is my main chart though.
the gap didn't close after 10:30. Is the gap going to be get filled?
ReplyDeleteAfter 10:30am ET if there's new intraday high then it could be an up trend day according to www.sentimentrader.com. Not sure that statistics fit for small gap or not though.
ReplyDeleteVIX is up and market is up too.
ReplyDeleteCould pullback tomorrow.
but have to wait till close today to see where market and vix go
the gap is filled. now have to wait to the eod to see what is going on for the market.
ReplyDeleteCobra,
ReplyDeleteIf we pullback here then what support are you looking at? Is SP 1007 going to act as a short-term support?
EW thinks that the intermediate support should be 980 and if 980 breaks then 969 but it will be long time before we get there.
BTW, what is the Fib 23.6 of this current top?
- EW Guy
Nevermind.. Looks like the correction is over.. LOL...
ReplyDeleteIf you get a chance then please reply.
Thank you,
-EW Guy
EW Guy, see my 15 min SPY chart, updated realtime. SPY just bounced from the last Friday's consolidation area. The rebound so far looks weak. 30 min SPY chart gets updated too, you can see where Fib 23.6 is now which is around 102.59 on SPY.
ReplyDeleteWhere can I see your charts? Sorry, if I miss the link - I am new to this blog...
ReplyDelete- EW Guy
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID2393449
ReplyDeleteAlso the link is in "About this blog"
Cobra - Thank you.
ReplyDelete- EW Guy
EW Guy, if you don't have Stockcharts.com realtime services what you see is 20 min delayed. So actually in realtime, I simply post screenshots on my forum - Nothing serious though, just a method to keep conversations on my forum.
ReplyDeletewhat is your forum address cobra?
ReplyDeleteIt's in Chinese so... The link is also in "About this blog" on the right top of this page.
ReplyDeleteCobra - Thank you for letting me know. I have StockChart Subscription but I never had their real-time service. Now, it makes sense to have real-time service.
ReplyDeleteThank you.
-EW Guy
EW Guy, if you want real-time service simply because you want to see my real-time chart then I think it's unnecessary as I don't update real-time very often.
ReplyDelete