Posted by timebandit on 12th of Sep 2021 at 11:57 am
SPX McClellan Oscillator- poked outside lower band on Friday.
That band is angling down pretty steeply, so it may take another
day below before the SPX MCO turns back up. Close up view also
shown below
yep I've pointed out things like that before as well -
especially for the ViX when it's falling but the lower Bollinger
Bands are also sloping down strongly at the same time thus not
allowing the VIX to be able to close below them (generally you'll
get a bounce in the VIX to allow those lower bands slope to flatten
out) thus allowing price to be able to catch up to them
Posted by kevindeng0727 on 12th of Sep 2021 at 01:14 pm
One thing I feel strange this time is SPX & Dow McClelan
Oscillators closed outside lower BB, but $NAMO and $NYMO are barely
at oversold levels. That put me reluctant to go long on
Friday.
Posted by timebandit on 12th of Sep 2021 at 01:18 pm
I agree, Friday did not seem to be a good time to go long to me
either. But maybe that just means I'm a good fade. Anyway, I did
believe that the configuration of the SPX MCO and the lower band
indicated a possibility there could be further downside before a
bounce. Perhaps another strong day down gives NAMO and NYMO time to
catch up? Who knows?
SPX McClellan Oscillator- poked outside
Posted by timebandit on 12th of Sep 2021 at 11:57 am
SPX McClellan Oscillator- poked outside lower band on Friday. That band is angling down pretty steeply, so it may take another day below before the SPX MCO turns back up. Close up view also shown below
yep I've pointed out things
Posted by matt on 12th of Sep 2021 at 01:43 pm
yep I've pointed out things like that before as well - especially for the ViX when it's falling but the lower Bollinger Bands are also sloping down strongly at the same time thus not allowing the VIX to be able to close below them (generally you'll get a bounce in the VIX to allow those lower bands slope to flatten out) thus allowing price to be able to catch up to them
One thing I feel strange
Posted by kevindeng0727 on 12th of Sep 2021 at 01:14 pm
One thing I feel strange this time is SPX & Dow McClelan Oscillators closed outside lower BB, but $NAMO and $NYMO are barely at oversold levels. That put me reluctant to go long on Friday.
I agree, Friday did not
Posted by timebandit on 12th of Sep 2021 at 01:18 pm
I agree, Friday did not seem to be a good time to go long to me either. But maybe that just means I'm a good fade. Anyway, I did believe that the configuration of the SPX MCO and the lower band indicated a possibility there could be further downside before a bounce. Perhaps another strong day down gives NAMO and NYMO time to catch up? Who knows?
WOW ..... outstanding chart @Matt -
Posted by arun on 12th of Sep 2021 at 12:11 pm
WOW ..... outstanding chart
@Matt - you should bring him on your team lol
Arun, I'm flattered, but no
Posted by timebandit on 12th of Sep 2021 at 12:17 pm
Arun, I'm flattered, but no way. So much to learn from these guys (as well as from you and many others in this community)