#StockMarket WE update: recent Demark 13 sell I posted this wk marked the swing high & choppiness ensued. Fri was ugly but could be opex related so for now just expecting more of the same unless stimulus resolution breaks us out or down. set up seems bullish but needs to confirm Image
#stockmarket Demark Trendfactor lvls continue to be a good guide. 13 sell peaked @ 1x up lvl, & found support on 1/2 lvl down. see white boxes for up lvls & blue for down lvls in chart above. daily #SPX chart below also showing a close right @ 5 day EMA on Fri.... Image
#stockmarket #SPX weekly chart ended w/ a doji candle which shows indecision, & intuitively makes sense given the impasse over stimulus. To me this chart is intermediate term bullish - Large C&H w/ resistance at the B/O point. could it break down from here? sure... Image
#stockmarket #SPX monthly chart is constructive as it seems to be consolidating after a rough Sept although near the top of the megaphone pattern from '09 low. sideways is usually bullish in an uptrend - right now working on an inside month.... Image
#stockmarket #SPX weekly Demark chart also now w/ 2nd wk of price flip up post the 9 sell @ the beginning of Sept. Slo sto is also starting to curl back up. notice last 2x its crossed this year, favorable mkt returns ensued.... Image
#stockmarket switching gears to the #Dow & the picture is a bit more cloudy w/ pot'l for a big Double top or a break out to test the top of the channel around 30k.
Time will tell. But the weekly much like #SPX looks bullish - Doji candle right at C&H resistance.... ImageImage
#stockmarket #Dow Demark chart still has a propulsion up tgt thats active w/ 29526 tgt. This may also coincide w/ an incomplete combo 13 sell (11 count from Sept high). Recent Demark 13 sell still in play & risk lvl associated w/ it @ 28978 was the recent swing high = cloudy.... Image
#stockmarket interesting that the #SPX #NASDAQ #Dow all found support this past week at the top of the ichimoku cloud.... ImageImageImage
#stockmarket Smartmoney Index has been trending lower and has been one of the indicators that has kept me cautious & continues to struggle. BUT, new Demark Seq 13 buy as early as tomorrow at the lower end of my channel. turning up would be bullish.... Image
#stockmarket OBV also looks bullish for the #SPX #Nasdaq #Dow (less so)... ImageImageImage
#stockmarket MACD for each of the indices #SPX #Nasdaq #Dow also have all crossed + and back above the zero line on the daily charts = bullish.... ImageImageImage
#stockmarket Although the RSI for each of the indices #SPX #nasdaq #Dow has been losing momentum and somewhat negatively diverging.... ImageImageImage
#stockmarket and the McLellan Summation Index overlaid w/ Demark signals, which called the trough in the indices again 3 weeks ago, now approaching pot'l exhaustion this week, w/ new 9 sell and pot'l for a combo 13 sell in 3 days. needs to be monitored..... Image
#stockmarket also the Ad/Decline w/ a new Demark combo 13 sell last wk & a new 13 possibly this wk. Turning down here would be bearish... Image
#stockmarket short positioning overlaid w/ Demarks now showing an 11 buy count on the daily w/ likely 13 printing this wk. Last 5x this happened, volatility events ensued but timing here is difficult. hedge here probably not a bad idea.... Image
#stockmarket but ultimately the flood of Fed liquidity isnt compressing, its expanding, so LT bear thesis IMO is hard as long as this is trending up.... Image
#stockmarket Consumer discretionary vs staples (risk indicator) continues to look bullish to me and implies risk on... Image
#stockmarket and the Value Line index, while still struggling at an important juncture, showing a series of higher lows despite the UTL break over the summer. break out here would scream bullish to me.... Image
#stockmarket concl: chop fest likely continues until some stimulus resolution, which could come this wk. I see reasons to be intermediate term bullish, but also some issues in the ST. I continue to advocate a less is more approach, tight stops, hedges and cash. buy dips sell rips

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More from @coiledspringcap

11 Oct
#stockmarket WE update. Sometimes when everything seems to be working, breaking out, acting as it should or we hope, IMO, means things are getting too easy. My gut says we are there & time to retrench a bit. Last wk pump job screwed the bears but could mean now we fall harder....
#Stockmarket hard to know how this shakes out but as you can see in this thread, my indicators are flashing yellow. $INDU currently w/ first Demark Seq 13 sell last wk since the low & new aggressive seq 13 w/ so sto overbot. also hitting wkly resistance. but Prop up tgt =29526...
#stockmarket #SPX also w/ a Demark Seq 13 sell looming if trade +3509. Slot sto also overbot. upside & downside Trend factor lvls in white boxes. 3rd D-wave tgt @ 2975. currently hitting 1.5x upside level....
Read 15 tweets
9 Oct
hmmmmm ImageImage
volume 👌 Image
boom! HOD Image
Read 4 tweets
21 Sep
#StockMarket I hope you all had a great WE. Some quick mkt thoughts as head into a new wk. Last WE I suggested a break of 50day/wk low could yield #SPX 3280ish, we reached 3292. RSI divergence was erased; next Demark Trend Factor levels: 3262 & 3200 (coincides w/ 3180 area)....
#StockMarket #SPX I also mentioned the pot'l for a midwk turnaround on Demark exhaustion signals but early wk strength negated the count & has now started over. the Naz also erased its count & now has a Demark propulsion down tgt of 10470. still looks very vulnerable....
#StockMarket #SPX did close below the important 10wk for the first time while the Naz closed below for the 2nd wk in a row = not bullish....
Read 12 tweets
19 Jul
#StockMarket officially back from Vaca & back in the saddle. The call last week to fade $QQQ was the correct one. -5.7% peak to trough, & the argument for rotation pot'l also occurred. That said the mkt is stubbornly resilient and tough to be too bearish, yet i remain cautious:
#StockMarket $QQQ weekly ugly candle on elevated volume and last time we saw that happen, more weakness ensued. RSI continues to neg diverge & now threatening to break the RSI trend line. MACD neg divergence as well w/ recent lower high and neg cross again....
#stockmarket #SPX looks much better and arguably looks and feels like wants to break out. meaningful supply zone ahead to be aware of w/ a break higher of last wk high, w/ new tgts 3257 and Covid gap resistance of 3360. pot'l for SPX +MACD monthly cross soon = bullish MT....
Read 17 tweets

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