So far nothing has been able to stop this rally, even today's
inflation print. Most major indexes are approaching
overbought, on daily charts, but they all have room to run up more
before hitting the tops of their bollinger bands. The QQQ,
SPY and IWM all got "9" sell signals on DeMark charts several days
ago and still hover near those same levels. the DIA got a "13" sell
signal in late November 2022. It's bounced up and down a bit
since, but is currently right back at that same level. I'm having a
very hard time finding anything to buy, but I've been pretty
unlucky with shorts. Therefore I'm just sitting and
waiting.
Posted by mastermind on 14th of Feb 2023 at 03:53 pm
You do realize that those Demark signals go away once there is a
big enough pullback from those levels, right? Someone can correct
me if I'm wrong, but I don't think that those are necessarily
supposed to represent future resistance levels.
All these talking heads on same page now so they squeezed the
shorts today hold it up to close out or trim their positions. I
have weekly sells on spy etc. daily up signals so say up 3-4 days.
Than Feb 23 rd as a turn date also to head south into march.
Than will be looking for a low in GDX and or gold stocks to load
up. Into fall of this year should be very interesting...
rp, the seasonal trend for the OpEx week in February is a high
on Wednesday, and a drop into Friday. Brokers had to buy futures to
offset calls bought by their clients. When calls expire, future
long positions will be unwound. I concur with your
observations.
So far nothing has been
Professional Opinion RequestEveryone here has been doing this longer than ...
Posted by pkrsek on 14th of Feb 2023 at 03:41 pm
So far nothing has been able to stop this rally, even today's inflation print. Most major indexes are approaching overbought, on daily charts, but they all have room to run up more before hitting the tops of their bollinger bands. The QQQ, SPY and IWM all got "9" sell signals on DeMark charts several days ago and still hover near those same levels. the DIA got a "13" sell signal in late November 2022. It's bounced up and down a bit since, but is currently right back at that same level. I'm having a very hard time finding anything to buy, but I've been pretty unlucky with shorts. Therefore I'm just sitting and waiting.
yep - we gotta get
Posted by matt on 14th of Feb 2023 at 03:59 pm
yep - we gotta get the buss loaded first - still some seats left
You do realize that those
Posted by mastermind on 14th of Feb 2023 at 03:53 pm
You do realize that those Demark signals go away once there is a big enough pullback from those levels, right? Someone can correct me if I'm wrong, but I don't think that those are necessarily supposed to represent future resistance levels.
It does. A TDST resistance
Posted by kevindeng0727 on 14th of Feb 2023 at 04:07 pm
It does. A TDST resistance was created on that "9" so a break out through that level will start the trend (same idea as traditional TA).
TDST. ? stands for what
Posted by watcdy on 14th of Feb 2023 at 04:11 pm
TDST. ? stands for what please ?
https://www.litefinance.org/blog/for-professionals/technical-analysis-tool-by-tom-demark-td-sequential/ Basically a range was formed
Posted by kevindeng0727 on 14th of Feb 2023 at 04:19 pm
https://www.litefinance.org/blog/for-professionals/technical-analysis-tool-by-tom-demark-td-sequential/
Basically a range was formed from initiation to end of that 9 set up. SPX needs to break 4211 TDST resistance in this case.
once they are set they
Posted by matt on 14th of Feb 2023 at 03:58 pm
once they are set they stay - if the bar isn't closed it may go away.
All these talking heads on
Posted by RP on 14th of Feb 2023 at 03:53 pm
All these talking heads on same page now so they squeezed the shorts today hold it up to close out or trim their positions. I have weekly sells on spy etc. daily up signals so say up 3-4 days. Than Feb 23 rd as a turn date also to head south into march. Than will be looking for a low in GDX and or gold stocks to load up. Into fall of this year should be very interesting...
rp, the seasonal trend for
Posted by junkie on 14th of Feb 2023 at 03:57 pm
rp, the seasonal trend for the OpEx week in February is a high on Wednesday, and a drop into Friday. Brokers had to buy futures to offset calls bought by their clients. When calls expire, future long positions will be unwound. I concur with your observations.
you cannot fight central banks
Posted by junkie on 14th of Feb 2023 at 03:48 pm
you cannot fight central banks with their unlimited liquidity, deployed on demand and undeployed shortly after.