ajtj's Post-Lobotomy Market Charts and Thoughts Message Board

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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts

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ajtj99

Lou Weed

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To: Lee Lichterman III who wrote (59548)	5/11/2022 2:11:59 PM
From: Lee Lichterman III	3 Recommendations Read Replies (2) of 97559

All these little bounces that don't hold are just relieving the oversold pressure and allowing us to continue to bleed down. I have multiple indicators showing we could bounce at any time but my buy signals can't fire because we keep letting steam off. This morning looked promising. RSP, R2K and MDY were doing better than the SPX showing depth while AAPL, MSFT, AMZN, GOOGL weren't participating. Apparently without leadership, we were doomed. EMA scans are solidly in bounce zone, trend lines and channels are in bounce zones. I just don't have buy signals. Rejection of TNX from the multi year resistance line adds to the confusion. The drop from there was expected however now we have to wonder if bond strength is flight to safety. Probably both but how much for which percentage? Logging off to get some work done. As abominable said, "Gosh it's hot"

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