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- Thread starter tsptalk
- Start date
FireWeatherMet
Market Veteran
- Reaction score
- 162
Interesting futures movement.
I really liked the "pin action" of stocks late last week. Would have been worried if we kept going up, but having a few flat to -0.50% down days after a big 6% upsurge is usually indicative of "smart money" staying in, and on the ready to buy more...as long as geo-political/commodity news stays positive.
- Reaction score
- 1,436
Some interesting reading
CoT: Peek Into Future Through Futures
CoT: Peek Into Future Through Futures | Hedgopia
And I like this link though I usually use finviz.com for my scans. Daytraders could use this one to target a few quick 6%'rs maybe.
Stock Scan: Growth Stocks - Markets Data Center - WSJ.com
Both were posted on another site I frequent.
- Reaction score
- 1,436
Another gap and some possible resistance. If those can break, the bulls would be back in charge, so the bears have some work to do today if they want to stall this bear market rally.
The SPY gapped open above the 50-day EMA while the S&P 500 Index is hitting it now.
Open gaps on the S&P 500 Index itself - as opposed to the SPY, are pretty rare.
JTH
TSP Legend
- Reaction score
- 769
Another gap and some possible resistance. If those can break, the bulls would be back in charge, so the bears have some work to do today if they want to stall this bear market rally.
The SPY gapped open above the 50-day EMA while the S&P 500 Index is hitting it now.
Open gaps on the S&P 500 Index itself - as opposed to the SPY, are pretty rare.
That's 3 open upward gaps on the SPX within 5 days, that might be some kind of record...
- Reaction score
- 1,436
- Reaction score
- 1,436
It's very early but the opening rally has already been turned away by the 50-day SMA. That's the test here... overhead resistance and the top of the range. A breakout will be a good sign, but it does have to get through the top of that trading channel to turn more bullish.
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