$NYLOW  - Just information, but this

    Posted by timebandit on 4th of Jun 2022 at 03:42 pm

    $NYLOW  - Just information, but this indicator poked into the green zone recently for the first time since late December

    What's the significance of this? 

    Posted by focus175 on 4th of Jun 2022 at 05:19 pm

    What's the significance of this? 

    It has me open to

    Posted by timebandit on 5th of Jun 2022 at 01:49 pm

    It has me open to the idea that the market could possibly have further upside. 

    But to be honest, you need to draw your own conclusions. Open the chart, take a look at what it does over time relative to the market, and see what you notice. If it has significance to you, then there you go. 

    It’s an inverse reading of $NYLOW so that fewer lows correllates with upturns in the market. There was a positive divergence on this upleg. That is, as I said, just information to be combined with your other indicators.

    It's an indication that a

    Posted by mastermind on 5th of Jun 2022 at 03:46 pm

    It's an indication that a lot of beaten down stocks have gotten a good bounce and haven't fallen back down to make new lows. Stocks like ASAN, CVNA, TWLO, W and others have given plenty of opportunity on the short side, but on up days they can have double digit gains without it looking like much on the charts. So it seems that the short side on them is getting more dicey lately. 

    I held onto some SDS from the system trade over the weekend and have shorts in AFRM and NVAX. I see some risk in AFRM, but it's a hedge against some of my longs. NVAX, on the other hand, seems like it could still have considerable downside after Friday's negative news and high volume spike down. The rest of my positions are longs, with RCMT being the star of the bunch.

    BTW, can anybody tell me if LABU/LABD are based on XBI or one of the other biotech indexes?


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