Hello Friends. SPY is not bearish and there are no technical reasons to open a short position imho, unless you feel like it. We're obviously approaching a zone of potential resistance. My overall perception is that we're going to enter some kind of consolidation phase and eventually retest the closest support zone. Happy Easter my fellow rabbits.
Small caps potential course of action.
I don't recommend a short position and gambling with the momentum forces here but I would take it easy in this zone and wait for the next wave to surf.
That's right: I only have 3 thoughts and even that is too many after the Holidays.
With all you guys bashing the Dollar and betraying it with some computer files you fell in love with I want to say a lot of things here, but be careful what you wish for - it might just happen.
Looking at Volume is my next favorite activity after celebrating New Year's and Christmases (plural due to multiple calendars). It's not the size of volume that disturbs my imagination but the place where it changes direction. Since the beginning of December the flow has been pretty consistent. I'll let my friends decide what it means. I see no technical reasons to short.
I've been making bullish calls on Gold throughout 2017. I'll continue to do so in 2018.
I'm not in a short mode here but in a waiting one. For those who understand no explanation is necessary. Also please note the epic flatness.
As it always happens after a strong breakout the market is searching for a new value/ state of equilibrium. There are some signs that the axis of balance could be around 57 for now. If the breakout move continues then we need to go to higher time frames in our search for truth.
TLT is in the resistance area and if there's no prompt breakout we should see a pullback. These are my levels of interests. This is not a short call but an observation.
t's not time to short but it's time for map orientation. Where's the bridge? It's over there. No please show us on the map.
Any comments are welcome. I pointed out some of the elements that stand out to me.