Posted by DigiNomad on 23rd of Apr 2024 at 01:32 pm
SPX Breadth Thrust? - Another nightly newsletter / video I watch
called out a potential breadth thrust incoming. A thrust like the
one we got to start the October rally, but way more rare because it
happened so close to the top whereas they typically occur close to
major bottoms. Are you guys seeing the same thing?
Again, not triggered yet, it just looked like a possibility
in the near term....according to the guy making the presentation.
Would be a strange place for it, but it also wouldn't
surprise me because the Gov is ALL IN on spending and is not going
to let up until after the election...I personally don't think they
can let up at this point until something breaks - they've gone past
the point of no return.
Certainly a possibility - others look for volume percentage
confirmation (The IBD method). Need a minimum of 80% UVOL -
also note the NYSE and DJI are testing their respective 20/21
EMAs
Posted by DigiNomad on 23rd of Apr 2024 at 01:52 pm
Here's the current reading from BPT saved chart (we're pretty
close considering the rule calls for 9 days or less from oversold
to overbought...and we're on day 2):
SPX Breadth Thrust? - Another
Posted by DigiNomad on 23rd of Apr 2024 at 01:32 pm
SPX Breadth Thrust? - Another nightly newsletter / video I watch called out a potential breadth thrust incoming. A thrust like the one we got to start the October rally, but way more rare because it happened so close to the top whereas they typically occur close to major bottoms. Are you guys seeing the same thing? Again, not triggered yet, it just looked like a possibility in the near term....according to the guy making the presentation.
Would be a strange place for it, but it also wouldn't surprise me because the Gov is ALL IN on spending and is not going to let up until after the election...I personally don't think they can let up at this point until something breaks - they've gone past the point of no return.
Certainly a possibility - others
Posted by steve on 23rd of Apr 2024 at 01:35 pm
Certainly a possibility - others look for volume percentage confirmation (The IBD method). Need a minimum of 80% UVOL - also note the NYSE and DJI are testing their respective 20/21 EMAs
I think it's doubtful that
Posted by mastermind on 23rd of Apr 2024 at 02:30 pm
I think it's doubtful that IBD would call this a confirmed rally only two days after they said the market went to correction, but I could be wrong.
Here's the current reading from
Posted by DigiNomad on 23rd of Apr 2024 at 01:52 pm
Here's the current reading from BPT saved chart (we're pretty close considering the rule calls for 9 days or less from oversold to overbought...and we're on day 2):
VOLD 5-6 today after spending
Posted by DigiNomad on 23rd of Apr 2024 at 01:37 pm
VOLD 5-6 today after spending most of yesterday in the 3's.