Some quick examples: So July 19th P/C ratio from QQQ spiked above 1.0 right at the bottom of the down trend. Bears shorted the bottom. They have a habit of it. Then back in April you can see P/C spiked crazy a few times and was followed by very mild down moves. The real sell off didn't come till P/C dropped. Then spikes above 1.0 signaled bottoms for the down...
Down move is obvious. Overbought conditions, RSI maxed out about 1yr bull channel. 3 red days in a row. etc. Perhaps a B move, but if it's shallow the short is on.
SNAP beat earnings, but had lower revenue and poor Q4 forecasts. Still, the bear move seems way low volume and all selling has been shallow since then. This is a buy imo. Supp at $54 Read here about earnings: finance.yahoo.com
TSM been bullish off earnings and consolidating all year in the 107-125 range. Larger POC @ ~117.8. Ideal buy zone $112.75-114.25. $122.5 next target. OBVM trends starting to bottom here. I started a small position at 115, looking for support here.
1hr MACD cross and BB sell signal + OBV bear signal at noon. The black dash is the 3wk bull TL supp, getting broken. Guess it's going back for test of 14930 volume shelf. Right now it's at local POC as well
The On Balance Volume indicates the Sunday pump was fake, low volume. Also lower high, MACD trending down and Yellen is gonna cause a panic today with the debt-limit crisis beginning. Expecting another red week starting down by noon Monday. If it hits 15060 and sells off at 7am that confirms for me.
Just a quick look at how DXY and GOLD have flipped correlations over the past 2 years
Seeing big volume gaps. Looking for light downside to 14930 ish, worst case maybe 14-14.1k. Upside maybe 15.3k
Money hit my account so hard, make me say Oh my Lord. Thank you for blessing me with a mind better than these Dweebs. Now I'm known to call top and bot. Zip up ya drip drop.. you can't touch this! i'm still living and you knowww.... you can't touch this.
Thinking BTC $50k bottom, on leg 3, unless this is leg Y, bottom at $52k. Then we might go to $60-62k on the next impulse. It could also be a 1 count and $50k will prolly be end of the 3 leg. Got big gaps to fill from $51-54K, going way back. More gaps up higher, but not as empty.
Just pointing out, PCQI, Put/Call ratio is the 4th highest in 2yrs at least. In past backtests I discovered bears are wrong about 80% of the time on PCQI. So A whole lot of bears got smoked if we went up 200pts and P/C went from 3.66 to 1.33.
Bears think twice about calling top so soon on a pa chart. 13686 supp for sloppy bull price action theory
This is long term, so don't pay attention to the future part of the chart. Just a general price action guess based on just the chart.