ST trend: neutral Yesterday we were noting that the ST trend was neutral, as both sides were inefficient via FGSI and set up both bullish and bearish EE. And we noted that breakout/down of those levels would be telling. The market initially broke down the bullish EE, which led to a decline that tested Wednesday's […]
ST trend: neutral On Friday we were noting that the ST trend was down, with a potential bottoming attempt. The market obliged and buyers made a decent effort going into the RTH open, but failed to take out the important bearish EE level on FGSI just below 4660. That failure was pretty ugly and led […]
ST trend: down (with potential bottoming attempt) On Wednesday we were mentioning that the ST trend was neutral as both sides were inefficient via FGSI and set up both bullish and bearish EE. Those levels were mentioned as important for breakout/down. The market dropped on the RTH to test the bullish EE level and held […]
ST Trend: neutral (potential reversal of uptrend underway) On Friday we were noting that the ST trend was down, as price had reversed lower off an unconfirmed high on both FGSI and IGSI and broke below ML. We did mention that FGSI hit extreme pessimism and bounced into a ML back-test that rejected price. Buyers […]
ST trend: down Yesterday we were noting that the ST trend was neutral as both sides were inefficient via FGSI. Sellers took the lead early after the RTH session started and accelerated lower to break the bullish EE level. The market found support at extreme pessimism on FGSI and helped by a Seller Exhaustion and […]
ST trend: up On Friday we were noting that the ST trend was neutral, as price was stuck in a range and both sides were showing inefficiency on FGSI. We had both bullish and bearish EE at the ends of the chop range, and mentioned that breakout would be telling. ML was also close by […]
ST trend: neutral Yesterday we were noting that the ST trend was up, as sellers continued to be inefficient on pullbacks, while buyers had managed to win back ML. We did mention that ML is the key for the trend and that proved to be important. ML was lost early after the cash session started, […]
ST Trend: up On Friday we were noting that the ST trend was (still) up, as sellers were very inefficient on FGSI. We also mentioned that the important lines on TTs would provide important clues when a reversal would finally show up. The market ended up pushing another ~30 points higher from our post, before […]
ST trend: up On Friday we were mentioning that the ST trend was neutral as despite earnings misses from 2 heavyweights (AMZN and AAPL), the decline was contained. Price just came to test ML and sellers were unable to push too much below it. FGSI was showing both bullish and bearish EE in a sign […]
ST trend: neutral On Friday we were mentioning that the ST trend was still up as sellers continued to be inefficient on eachpullback, while buyers kept pushing to higher highs. After the cash market opened we saw an initial drop, then a push to a new high, which was unconfirmed on FGSI and which was […]