10 days of September and the market is up ~6%. We had similar run-ups in June and July. Both followed by sharp pull-backs. No reason to think that this time is different. Also, last but not least: Nitro's NFV ~40 pts below the current level. This is one of the highest (the highest?) divergences (to the downside) that I recall.
256 stocks hit new highs, 8 new lows on the NYSE on Friday. That's very strong. It was this way all week long. It's a breakout. Within the short time frame of a week, it's possible we could have a pullback, but not likely. Far more likely is a strong up week to squeeze the remaining bears.
it is the expr week so historically we have ~0.5% bullish upside. but given the giant run-up, who knows...
Bullish unless rather pesimistic economic data is released. Trends rarely reverse without new opposing fundamental data. ESD
SPY is touching upper BB but SEMIs look like crap. Should not Semis participate in the a serous rally?
Here's the bullish engulfing on the daily 25 august. Imo, that was a strong reversal signal. http://www.elitetrader.com/vb/showthread.php?s=&postid=2934439#post2934439 (Gotta love freestockcharts.com Hope they stick around.)
momentum player may want to: short SMH long SPY RTM player may want to: short SPY long SMH based on the ratio chart