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Strategies & Market Trends : General market lab and commentary

SPY 683.34

+0.2%

Nov 3 4:00 PM EST

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To: Robohogs who wrote (542)	7/14/2016 5:54:57 AM
From: Robohogs	of 668

As of 5:46 pm, I am just completely baffled. It would appear we will get the 4th and 5 out of 6 gap in a row in XBI. As the main price over-boughts have been unwound in all but the stochastic TA metric (and that will fix each day we move forward in this area) and with huge buying days leaving my timing model, XBI could drift higher with my timing indicators refusing to go back to extremes although that will happen early next week is Brexit exits the data. This metric did stay way way way oversold for 1-2 weeks beyond normal in January. It might do so again the opposite direction. I still have a lean of bearish but with my previously published thoughts of not going all the way back down, with a 2-3% flush under our belts, with further thinking about not destroying the W in FBT and XBI and indeed, perhaps forming a handle, I am back to patient waiting albeit with a tiny short trading position in XBI (versus longer investment position) vs. the small long I unwound 2 days ago. BTW the last time up gaps were flashing like now was during the January portion of the bio crash. Yes, we had daily saved up gaps each day and then flushed. Just like now. But now we are coming off the highest up breadth thrusts in my data vs. then having the highest down breadth thrusts in my data. Very strange. This is main reason I created the quickie downloader. I am trying to get data way way back to look at 2008/09 and maybe 2000/02. I will likely use base of XBI broken into two files. Jon

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