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- Thread starter tsptalk
- Start date
- Reaction score
- 1,412
The best formation when looking for a low to develop, is the positive reversal type of candlestick (hammer). That means the index has to:
1) open higher
2) fail and move down to the lows
3) rebound and close near the highs...
We got the first two this morning. But now comes the hard part.
- Reaction score
- 1,412
OK, how about a negative reversal instead?
The best formation when looking for a low to develop, is the positive reversal type of candlestick (hammer). That means the index has to:
1) open higher
2) fail and move down to the lows
3) rebound and close near the highs...
We got the first two this morning. But now comes the hard part.
exnavyew
TSP Pro
- Reaction score
- 254
Seems like the rallies are getting sold lately. Don't know 'the math' but it sure 'feels' bearish.
'Fasten your seatbelts; it's going to be a bumpy night.' - Bette Davis from All About Eve.
https://www.youtube.com/watch?v=yKHUGvde7KU
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- Reaction score
- 1,412
The small caps (S-fund) are in an interesting position with this month's lows hitting and holding at the long-term lower support line from the bear market lows, but there's another support line that goes back to the 2011 lows that is further down.
- Reaction score
- 1,412
No trend change but HYG did manage to close back at the highs of the day after being at the lows when I made the prior post...
I don't like to see the High Yield Bond fund down again, and at the lows of the day, while stocks are up.
James48843
TSP Talk Royalty
- Reaction score
- 525
Possible support near 2625. The red vertical line was the point loss in February, so this correction hasn't quite reached that level of decline.
Tom- the other day you mentioned this chart- comparing this recent downturn with February's, and also mentioning possible support at 2625. It turned out that the support that held was at 2603. And that would put the downturn almost identical in breadth and depth to the february fall.
If that tracked, it would create the bounce back up to 2875 or so before we pause again.
Can you show me- put the red line down to compare what happened in feb to what happened over the last week or so?
Thanks
uscfanhawaii
TSP Pro
- Reaction score
- 18
James48843
TSP Talk Royalty
- Reaction score
- 525
Yes, exactly.
Ok- so IF we had a repeat, and that is a BIG if, we’d be looking in the area of 2850-2875.
So that becomes my target. Anything over 2800 is gravy, and 2825 would potentially be a sell point for me, depending on whatever is going on in the markets by then.
I’m crossing my fingers and looking for a rebound ahead.
James48843
TSP Talk Royalty
- Reaction score
- 525
Yes!!! Thank you!!
These charts annotations really add value for me! I didn’t see this until now- but your chart annotations really help me a great deal!
James48843
TSP Talk Royalty
- Reaction score
- 525
Bizarre day, isn't it?Similar threads
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