9 thoughts on “CHART OF THE DAY

  1. gary Post author

    We gave it another shot, but got stopped out at break even. For a tweezer bottom and strong follow through day, which also broke the cycle down trend line (powerful bottoming pattern) to get reversed immediately I think it’s pretty clear at this point that Washington is going to keep oil suppressed ahead of the elections. So I won’t trade oil until after that.

  2. Mark Crawford

    Gary, the market put in a Hindenberg Omen yesterday. These are a combination of technical data points, that tend to mark market peaks. The idea however is that you need a confirming H.O, meaning another one within the next 30 days to validate it. Then if you get a second H.O in the required time frame, you are officially on “crash watch” and that lasts for about 4 months. I am looking for 20% haircut in the next 4 months.

    1. gary Post author

      Options expiration explains the volume. I didn’t see any BoW numbers during the day so I assume it was another one of those fake numbers that are manufactured after the close. Some one can correct me if I’m wrong as I wasn’t able to monitor the numbers during the last two hours.

      1. Daniel

        Friday was ex-dividend for SPY so that is the reason for huge volume and BoW.
        Also that little thing, what was it? Oh.. BABA ipo.

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