Market Context We projected on the evening of Thursday 12/19 that $SPX $NDX $RUT would break out on Friday, and indeed they all did that. They gapped up and spent most of Friday at our projected Resistance1 level, as shown in the comparison below. We don’t usually achieve this level of accuracy across all indices, so we thought we might show off here a bit :-) Market Internal Indicators Market breadth is still strong, indicating that Surge10 still has momentum behind it. However, the percentage of bullish stocks are approaching top levels. 83% of Nasdaq stocks are above their 200-day EMA. That’s very bullish, but it also means that prices are approaching a short-term top soon. 90% is typically where the percentage starts to drop again. This potential short-term top is confirmed by volatility $VIX $VXN. So exactly how soon will this short-term top appear? And what is the potential size of the pullback? The full article covers: Market Internal Indicators Support & Resistance Levels Market Projections Planning Your Trades To read the full article, register your email here. You will get immediate full access to all our nightly analysis and trading plans. No credit card necessary. Trial membership is FREE for one month. Here are testimonials from our readers.
0 Comments
Leave a Reply. |
Archives
September 2023
Categories |