In my last post I was looking at strong daily lower band rides on SPX that have the daily lower band ride as intraday resistance, rather than as support as would be the case on a standard daily lower band ride, and I used a previous instance from September as an example. Interestingly the path then taken by this band ride was similar to that last example, with the daily candle on Monday punching down through the 3sd lower band and then closing back above it, also generating a bullish daily high volume spike, then the daily candle on Tuesday being an inside day trading part of intraday back over the daily lower band, then the daily candle on Wednesday opening an closing back above the daily middle band.
(more…)Slope of Hope Blog Posts
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Turning Slightly Bearish
The New Bull Market…in Volatility
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(more…)Come to Butthead
Apple announced blowout earnings and revenue, so the stock is pushing higher. May I gently point out the gaping maw into which it is heading? Just thought I’d mention it.
Change the Channel
The biggest earnings announcement this afternoon by far is going to be Apple (AAPL) which has been following an ascending channel for eons and is presently just beneath the midline. I never, ever, ever trade this thing, but I’m inclined to believe it’s going to move lower tomorrow. Just a guess.
