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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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ajtj99
The Ox
To: rimshot who wrote (10492)11/12/2020 12:37:15 PM
From: rimshot2 Recommendations   of 97558
 
imo based on chart reading, any price action taking place this week above SPY 357.00 was an opportunity to
enter short as a position trade ... see below for the overall big picture --

this is NOT expected to be a long-term hold with multiple weeks duration

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$NYA daily with McClellan indicators and Advance-Decline metrics
for only the operating companies within the NYSE -

stockcharts.com

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Message #10492 from rimshot at 10/30/2020 1:02:13 PM

you see we are possibly near the start of the final potential leg required to complete a W formation
that is now dependent on price going up again from a higher SPY low
( dividend adjusted look-back price history) ?????
The final leg requiring up in the coming weeks is what follows months of
forming the earlier portion of the W for the SPY price action ...months ...
and

we continue to have a higher low when using dividend adjusted look-back on the price history ...
all conditions are constructive at present for a completion of the W,
and remains optimal while the higher low vs. the SPY 319.xx continues as the status

stockcharts.com
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