Market Breadth 2023-01-19
Güncellendi
Index: Duration bearish market (stocks move in tandem, occasional oversold rallies).
Primary Indicator: Green (bullish continuation and bearish reversals are favorable).
Secondary Indicator: Rare bullish breadth thrust 12 Jan. MMFI >72 (overbought or bullish acceleration in market turn). Countermove attempt 18 Jan.
MR10: SPY (-4 None) / QQQ (21 bullish continuation) / IWM (25 bullish continuation) = Recommended new focus is None.
20 percent study: Up 43 (extended movers, indecisive candle) and down 10.
Conclusion: This bullish move happened unlike previous ones (without oversold condition / market new low). The breadth has been very bullish, was however inclined to hit a wall which happened 18 Jan, which in advance had a proper reversal indication. Whether we continue with a minor correction towards the mean and consolidate (rest of week) before upside or break into new lows are hard to tell at this point. Based on historic price action we will continue lower (bounce into breakdown), but this move happened outside these conditions so be attentive.
Actionable: Primary indicate bullish continuation / bearish reversal and most point toward the latter on the short term. Will focus on daytrading with decreased size and wider stops (fade risk has improved). Will only hold top quality setups from the 9 million scan.
Primary Indicator: Green (bullish continuation and bearish reversals are favorable).
Secondary Indicator: Rare bullish breadth thrust 12 Jan. MMFI >72 (overbought or bullish acceleration in market turn). Countermove attempt 18 Jan.
MR10: SPY (-4 None) / QQQ (21 bullish continuation) / IWM (25 bullish continuation) = Recommended new focus is None.
20 percent study: Up 43 (extended movers, indecisive candle) and down 10.
Conclusion: This bullish move happened unlike previous ones (without oversold condition / market new low). The breadth has been very bullish, was however inclined to hit a wall which happened 18 Jan, which in advance had a proper reversal indication. Whether we continue with a minor correction towards the mean and consolidate (rest of week) before upside or break into new lows are hard to tell at this point. Based on historic price action we will continue lower (bounce into breakdown), but this move happened outside these conditions so be attentive.
Actionable: Primary indicate bullish continuation / bearish reversal and most point toward the latter on the short term. Will focus on daytrading with decreased size and wider stops (fade risk has improved). Will only hold top quality setups from the 9 million scan.
Not
Independent, focus on setups before the rest, will provide information of whats viable.Not
Market followed with a minor corrective move as expected (reversal bearish continued), however no acceleration to the downside closed daytrade shorts into profits.Not
Not
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