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Categories:General Market Commentary
THIS IS A GOOD CHART TO SWING TRADE KEY INDICATION IS CROSSING OF THE LINES AND TOUCHING THE BOLLINGER BANDS.
Any small move in NAMO then bigger move in 2 Days. This is a powerful indicator.
The numbers to the right of the chart is the % percentage that are above their 50 Day Moving Average. This is very healthy. The Green and Orange is a good visual.
The NYHL indicator and breadth and SPX The short squeeze is indicating that people are once again buying the highs and generally when the NYHL indicator is reaching lofty highs, we look for a reversal. I have a 10EMA on the indicator. As long as the NYHL ends the day above the 10EMA you usually are safe to a degree in a long position. A close below the 10EMA and look for a reversal in the markets.
Above 150 Topping area in normal markets
150 to 0 SPX Happy Place
Less than 0 no mans land
-350 Bottom area for normal markets
Below -900 major reversals
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