Though I am doing great in my trading accounts the drop in my
long term portfolios is nothing short of scary. All stocks got sold
so much that a recovery from these lows seems just impossible. Hope
I’m wrong
If I were you I would wait for a bounce and sell. As of today,
looking at the # of new lows, and 16% price above 20ema, 28% price
above 50ema, 56% of stocks > 200ema, 58% of stocks with 20ema
> 50 ema, 79% of stocks with 50ema > 200ema. Since only 28%
of stocks with price above 50ema, this means the 79% of stocks with
50ema > 200ema will go lower moving forward. I do not have much
hope for too much of a bounce. Someone I follow sold all his long
term holdings a week or 2 ago.
From Stan Weinstein's stage analysis, spy weekly is below 34
WMA, so we are at the beginning of a bear market. My plan is to
short bounces with greater position until the chart shows
otherwise. SPY corrected about 8.5% from the high which is normal
in a bull market, but looking at the charts breaking the trend
lines and the internals, I don't think this is just a normal pull
back.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
Nasdaq and NYSE New Highs and Lows Wow
Posted by matt on 21st of Jan 2022 at 08:21 pm
$COMPQ - Chart Link-
$NYSE - Chart Link-
Though I am doing great
Posted by arun on 21st of Jan 2022 at 11:03 pm
Though I am doing great in my trading accounts the drop in my long term portfolios is nothing short of scary. All stocks got sold so much that a recovery from these lows seems just impossible. Hope I’m wrong
If I were you I
Posted by sydney on 22nd of Jan 2022 at 01:08 am
If I were you I would wait for a bounce and sell. As of today, looking at the # of new lows, and 16% price above 20ema, 28% price above 50ema, 56% of stocks > 200ema, 58% of stocks with 20ema > 50 ema, 79% of stocks with 50ema > 200ema. Since only 28% of stocks with price above 50ema, this means the 79% of stocks with 50ema > 200ema will go lower moving forward. I do not have much hope for too much of a bounce. Someone I follow sold all his long term holdings a week or 2 ago.
From Stan Weinstein's stage analysis,
Posted by sydney on 22nd of Jan 2022 at 01:21 am
From Stan Weinstein's stage analysis, spy weekly is below 34 WMA, so we are at the beginning of a bear market. My plan is to short bounces with greater position until the chart shows otherwise. SPY corrected about 8.5% from the high which is normal in a bull market, but looking at the charts breaking the trend lines and the internals, I don't think this is just a normal pull back.