News Links and Chart Links Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : News Links and Chart Links

SPXL 222.73

+1.6%

Nov 28 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

Recommended by:

Sam

From: Les H	10/7/2022 7:44:03 PM
	1 Recommendation of 29601

The oversold bounce for the S&P 500 (SPX) came a few days earlier than expected on Monday October 3rd. The rally was good for 6.2%. But since it could not take out the 20 day moving average, the case for the SPX making lower lows remains intact. Once the year low at 3584.13 breaks, the window for a bottom and a more durable rally should ensue. For reference, the daily SPX has recorded a TD Buy Countdown @13 on Friday, October 7th, indicating price exhaustion indicators are in motion. If the market continues to back and fill, TD Buy Setup @9 could record on Wednesday, October 19th. A fresh TD Trend Factor is drawn at 3395.38 which is strikingly close to the pre-covid high at 3393.52. Despite these target levels and target dates, the best gauge in this environment is to look for classic signs of capitulation. The declining 20 day moving average still correlates with the bear trend at the moment. tradetrekker.wordpress.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next