DrStool Posted May 18, 2021 Author Report Share Posted May 18, 2021 To break out or not to break out. That is the question, 30 minute bars are close on the ES. Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2021 Author Report Share Posted May 18, 2021 the 3 minute is starting to roll over from the yellow line. Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2021 Author Report Share Posted May 18, 2021 This is the Dick Trickle Memorial pattern. Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2021 Author Report Share Posted May 18, 2021 Well there ya go. That's clear and convincing. A negative divergence that worked out. Link to comment Share on other sites More sharing options...
Mkucstars Posted May 18, 2021 Report Share Posted May 18, 2021 The way I see it, they are spending all this $ to prop up the market, not make it soar. Why all the risk is down. Another nice day! Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2021 Author Report Share Posted May 18, 2021 17 minutes ago, DrStool said: Well there ya go. That's clear and convincing. A negative divergence that worked out. And the market taunts. As I knew it would. This is a fundamental law of nature. If you taunt the market, it will remind you who is boss. Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2021 Author Report Share Posted May 18, 2021 They made a new low by a hair on the downdraft. If they roll over here again, we could see progress on the downside to around 4120 ES. Link to comment Share on other sites More sharing options...
Mkucstars Posted May 18, 2021 Report Share Posted May 18, 2021 I ain't skeered Link to comment Share on other sites More sharing options...
Mkucstars Posted May 18, 2021 Report Share Posted May 18, 2021 Small caps still look WEAK, all in short after catching that last bounce. Link to comment Share on other sites More sharing options...
Mkucstars Posted May 18, 2021 Report Share Posted May 18, 2021 They were able to reach up and touch the 50 day average this morning, I thought they would and that would be it. Next stop, the 200 day. Just my 2c. Link to comment Share on other sites More sharing options...
Mkucstars Posted May 18, 2021 Report Share Posted May 18, 2021 Aaand, down we go. Link to comment Share on other sites More sharing options...
DrStool Posted May 18, 2021 Author Report Share Posted May 18, 2021 If the market doesn't rally hard in the rest of April, the implication would be that the downturn will come earlier and harder. My analysis makes me think it's too soon, but what I think doesn't matter. The technicals will rule. Link to comment Share on other sites More sharing options...
Mkucstars Posted May 18, 2021 Report Share Posted May 18, 2021 I think the smart money agrees with you, selling into every rally and getting out. Distribution takes time and they aren't wasting any. Link to comment Share on other sites More sharing options...
Jimi Posted May 18, 2021 Report Share Posted May 18, 2021 3 minutes ago, DrStool said: If the market doesn't rally hard in the rest of April, the implication would be that the downturn will come earlier and harder. My analysis makes me think it's too soon, but what I think doesn't matter. The technicals will rule. Is it April still in Croatia? Link to comment Share on other sites More sharing options...
Mkucstars Posted May 18, 2021 Report Share Posted May 18, 2021 Oops. Lol Link to comment Share on other sites More sharing options...
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