QQQ - Chart Link- I talk about this all the
time and it's more visually subjective than it is quantitative.
When those MA ribbons get too expanded like they were, once you get
a decent bounce - that has to be worked off. on the QQQ even with
today's rally notice that ribbon isn't doing much, it's still very
wide - which implies to me that it will take some upward movement
to work that off -implies to me that we are not going back to to
the lows that soon
HYG - Chart Link- HYG daily chart - look how
wide those ribbons were early last week, and look at the resulting
rally. Finally that 'wideness' was worked off.
again when the ribbons get wide like that, it's not something I
can exactly quantify like an equation - it's just something you
visually see, more subjective but still very useful even with the
subjectiveness
MA Ribbon analysis
Posted by matt on 26th of May 2022 at 02:57 pm
QQQ - Chart Link- I talk about this all the time and it's more visually subjective than it is quantitative. When those MA ribbons get too expanded like they were, once you get a decent bounce - that has to be worked off. on the QQQ even with today's rally notice that ribbon isn't doing much, it's still very wide - which implies to me that it will take some upward movement to work that off -implies to me that we are not going back to to the lows that soon
HYG - Chart Link- HYG daily chart - look how wide those ribbons were early last week, and look at the resulting rally. Finally that 'wideness' was worked off.
again when the ribbons get wide like that, it's not something I can exactly quantify like an equation - it's just something you visually see, more subjective but still very useful even with the subjectiveness
Now we can look forward
Posted by steve on 26th of May 2022 at 03:11 pm
Now we can look forward to the FED actually starting to reduce their balance sheet next month. Get your popcorn ready.