Sunday, March 5th, 2017

Bullish action continues


Market continues to grind higher in the above mentioned video. NDX made a new high on Friday and the cup shaped pattern is proving what it should be doing so far. This index can move much higher if we are correct about the chart patterns. Same for $COMP the bullish action is all there to see. RUT is also trying to go higher and next few weeks we should some more bullishness.

Major stocks are doing well. AAPL the post split relegated one also bouncing off its trendline to go higher towards 95 or so levels. CMG has formed a large defective cup and now broken the rising trendline, yet shows no signs of being pummeled by bears who salivate its drop to 440 time and again. It wont happen anytime soon, unless earnings come out in 3 weeks and blow the stock downwards. NFLX also has a defective large sized cup with a sideways action similar to CMG and is resting now for few days going sideways.

This week again is filled with some cautious bullish trades to come and we keep an eye on the overbought conditions. Next week is July 4th and a major holiday and it may be a short week. Usually volume tapers off when these holidays strike.

Comments

One Response to “Bullish action continues”
  1. What’s up, all iis going sound here and ofcourse every one
    is sharing information, that’struly good, keep up writing.

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