Thread: Whipsaw's Account Talk

I just noticed I'm on the AT Top 10!

RSOTC indicated that S&P should get to about 2650, resistance there at the bottom of the channel that established before the last drop.

Well, Tsunami and I will be decidedly blown out of the top two spots by the glut of S-funders, will be in the 150s tomorrow I bet. :-/

Originally Posted by Whipsaw

Well, Tsunami and I will be decidedly blown out of the top two spots by the glut of S-funders, will be in the 150s tomorrow I bet. :-/

After the disaster that was 2018, you both certainly deserve a little time in the limelight. Enjoy the moment while you have it.

"...but then again we're getting close to a rare Zweig Breadth Thrust. That would happen if this closes above 0.615 by next Wednesday, which will be the 10th day from the recent low:https://stockcharts.com/h-sc/ui?s=%2...d=p16500670031 "

So today we did indeed get that rare and very bullish Zweig Breath Thrust, in just 8 days no less, 2 days to spare. Hmm.

Originally Posted by Tsunami

"...but then again we're getting close to a rare Zweig Breadth Thrust. That would happen if this closes above 0.615 by next Wednesday, which will be the 10th day from the recent low:https://stockcharts.com/h-sc/ui?s=%2...d=p16500670031 "

So today we did indeed get that rare and very bullish Zweig Breath Thrust, in just 8 days no less, 2 days to spare. Hmm.

So if it hits 0.615 that signals an overbought market? Or it signals a bullish long term trend?

Futures are UP!

'DEFINITION of Breadth Thrust Indicator

A technical indicator used to ascertain market momentum. The breadth thrust indicator is computed by calculating the number of advancing issues on an exchange such as the NYSE divided by the total number of issues (advancing + declining) on it, and generating a 10-day moving average of this percentage. The indicator signals the start of a potential new bull market when it moves from a level of below 40% (indicating an oversold market) to above 61.5% within any 10-day period, a sentiment shift that occurs only rarely.'



Sweet.

https://www.investopedia.com/terms/b...-indicator.asp

I think the quick run up (8 days) to get above 61.5 could indeed signal a longer term upward trend, but I think there has to be some downward movement in the short term before it takes off in the upward direction. Of course, I am being bearish since I went 100G yesterday. Sour grapes

Originally Posted by djlc86

So if it hits 0.615 that signals an overbought market? Or it signals a bullish long term trend?

Looks like there's something going on that we haven't seen in at least 5 years (max I can go on free stockcharts.com). Maxing out the breadth thrust chart you can see a possible breakout. A recent high of .89339 and the RSI moving up as well. Melt up fashion imo. I mentioned on another thread about Trump speaking tonight, that may be a spoiler. This is very interesting.


10% each C S I

Expecting a near term decline and then further upside, as its early in the month and I'm out of trades, will be holding position.

Originally Posted by Whipsaw

Expecting a near term decline and then further upside, as its early in the month and I'm out of trades, will be holding position.

Tread lightly WS. Remember what happened last Jan/Feb. New all time high for the S&P of 2872.87, set on 26Jan18. Nine business day later S&P had lost 300 points. Not saying the same thing will happen again this year, but it looks eerily similar...

Thanks RF, will be watching closely... that is the plan though. -.-