Breadth Thrust

    Posted by matt on 27th of May 2022 at 04:05 pm

    $NYA - Chart Link - not a breadth thrust in terms of the 9 day rule but quite the move up - here this week - another sign that this rally wont' simply come right back to the lows for a while

    $NYMOT and $NAMOT both closed

    Posted by kevindeng0727 on 27th of May 2022 at 07:16 pm

    $NYMOT and $NAMOT both closed above 350. That's actually a thrust signal for a new bull market (could fail of course, in late 2008 it triggered early). 

    You want to see how

    Posted by timebandit on 28th of May 2022 at 01:52 pm

    You want to see how extreme those readings are? For $NAMOT it is an all-time high, for $NYMOT it is the fourth-highest ever. (At least for as long as stockcharts has data, going back to 1998.)

    one step or level at

    Posted by matt on 27th of May 2022 at 07:58 pm

    one step or level at a time my man - 3 good up days and bull market talk. 

    that said, like I commented below, I favor maybe a 50% to 62% retracement of the bear market decline that might take 1 - 2 months to unfold

    short term either a pullback from here or if we have a yet another strong up candle on Monday a move to maybe 50 MA, then a decent size abc pullback that forms a higher low then up again - maybe back to 200 day MA over time

    Haha not really but I

    Posted by kevindeng0727 on 27th of May 2022 at 08:06 pm

    Haha not really but I am certainly opened minded for this possibility. Have a great weekend Matt & everyone.

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