INTERMEDIATE-TERM: INITIAL SPX PULLBACK TARGET COULD BE AROUND 1020-1040 AREA
No update, according to chart 4.1.0 S&P 500 Large Cap Index (Weekly), the most likely initial pullback target could be around 1020-1040 area.
SHORT-TERM: THERE’S A CHANCE THE REBOUND IS NOT MERELY A REBOUND
俺依旧没有证据说market bottomed,因此目前还是当反弹看待。不过,好消息是7.1.0 Use n vs n Rule to Identify a Trend Change,同样跌2天涨2天,明显是牛牛比较有劲,因此there’s a chance that the rebound is not merely a rebound。当然要看今后几天market能否keep rising,因为根据最近的pattern,见0.0.3 SPX Intermediate-term Trading Signals,如果SPX已经bottom的话,后面几天should be straight up而不应该有任何大的pullback,let’s see。
今天的After Bell Quick Summary提到由于1.0.2 S&P 500 SPDRs (SPY 60 min)的ChiOsc is way too high,因此明天早盘可能会有pullback。介里还有个理由,NYSE Intraday Cumulative TICK,太高了。
The bottom line, very short-term is very overbought now, so it’s reasonable to expect a little bit weakness (at least intraday), as long as it’s not a big pullback then chances are higher and higher each day that we may see a new high.
1.0.3 S&P 500 SPDRs (SPY 30 min),介个看一下,今天完成了第二目标,Fib 38.2%,再下面就是Jan 22的gap了。
STOCK SCREENER: For fun only, I may not actually trade the screeners. Since SPY ST Model is in SELL mode, only SHORT candidates are listed. For back test details as well as how to confirm the entry and set stop loss please read HERE. Please make sure you understand the basic risk management HERE.
Today’s screener has only one stock – ODFL, look familiar? Yeah, it was the chosen one last Friday but was not confirmed on Monday, guess it has to die first then someone must say “I love you” to wake it up to be a chosen one? LOL
According to the entry rule, the only stock found yesterday was not confirmed.
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