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As the market adjusted, I focused on finding those unique names.
Currently, 19 days have passed since the short-term peak of SPX, that is, set a name with the highest increase in the past 19 days and meet some conditions. After Friday, it will be changed to the 20th, and after next Monday, it will be changed to the 21st...
Here are the search criteria 👇
Currently there are only two chart potential settings that have caught my attention 👇
Currently, 19 days have passed since the short-term peak of SPX, that is, set a name with the highest increase in the past 19 days and meet some conditions. After Friday, it will be changed to the 20th, and after next Monday, it will be changed to the 21st...
Here are the search criteria 👇
Currently there are only two chart potential settings that have caught my attention 👇
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The concept of a “follow-up day (FTD)” was first proposed by William.J. O'Neil in the book “Laughing Stock Market”. It describes the concept of starting an upward trend caused by the main index (SPX) rising more than 1.5% and trading volume exceeding the 50-day EMA on the 4th to 7th (sometimes even the 10th and 11th days) after the market bottomed out.
Later, minor revisions and additions were made in his subsequent book “The Principles of Stock Trading” (written after 2003): 1.5% was changed to 1.7%, and the success rate is estimated to be about 75%-80%, and it is required to be prepared for withdrawal if trading volume expands and falls sharply in the future.
Back now, more than 5 months have passed since the last SPX follow-up day, November 2 (Thursday). SPX rose 1.89% on that day, and the trading volume exceeded the 50-day average, thus starting the upward trend in the past 5 months; currently, SPX has adjusted from a high point on the 19th, reaching 4 weeks after Friday (today). There is a chance that there will be a potential follow-up date on Friday. Although I am skeptical about the “one-legged” market adjustment, I still need to believe in objective facts and act quickly; if it doesn't happen, continue to be patient 🚴🏻
Later, minor revisions and additions were made in his subsequent book “The Principles of Stock Trading” (written after 2003): 1.5% was changed to 1.7%, and the success rate is estimated to be about 75%-80%, and it is required to be prepared for withdrawal if trading volume expands and falls sharply in the future.
Back now, more than 5 months have passed since the last SPX follow-up day, November 2 (Thursday). SPX rose 1.89% on that day, and the trading volume exceeded the 50-day average, thus starting the upward trend in the past 5 months; currently, SPX has adjusted from a high point on the 19th, reaching 4 weeks after Friday (today). There is a chance that there will be a potential follow-up date on Friday. Although I am skeptical about the “one-legged” market adjustment, I still need to believe in objective facts and act quickly; if it doesn't happen, continue to be patient 🚴🏻
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$iShares Bitcoin Trust(IBIT.US$
Bitcoin didn't do very well this afternoon. It is currently in a critical position. The 20-day EMA (meaning Bitcoin, not an ETF) and the 60-day EMA have now come together. However, the 60-day average will definitely continue to rise, and if the price continues to fall below the 20-day average, it will be weighed down by the EMA and cause the 20-day average to continue to decline. As a result, deaths on the 20-day average intersected with the 60-day average. Once this is the case, it's quite troublesome.
I hope the bulls will step up tomorrow, so that at least the Bitcoin price can reach the 20-day average and stop falling, otherwise it will have to test the 60,000 mark again.
Bitcoin didn't do very well this afternoon. It is currently in a critical position. The 20-day EMA (meaning Bitcoin, not an ETF) and the 60-day EMA have now come together. However, the 60-day average will definitely continue to rise, and if the price continues to fall below the 20-day average, it will be weighed down by the EMA and cause the 20-day average to continue to decline. As a result, deaths on the 20-day average intersected with the 60-day average. Once this is the case, it's quite troublesome.
I hope the bulls will step up tomorrow, so that at least the Bitcoin price can reach the 20-day average and stop falling, otherwise it will have to test the 60,000 mark again.
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$Marathon Digital(MARA.US$ its gonna drop it wont pass 20
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$NVIDIA(NVDA.US$ today's ATH 814, down now good night all
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“Trading is a battle between risk and reward. Is the expected return worth the risk?
If the answer is no, then it's no fun.”
-Marc Minervini
If the answer is no, then it's no fun.”
-Marc Minervini
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Last week in review 👉🏻Market Review+Core Position Analysis (08/04-12/04 2024)
“In the stock market, you can stand outside the market for free, watch and wait for the best time to bet. You can see the 'bottom card' of the market for free before placing a bet.” -Mark Minervini
A quick review of this week's markets:
$NASDAQ 100 Index(.NDX.US$ Dispatched on Wednesday and Friday;
$S&P 500 Index(.SPX.US$ Dispatched on Tuesday and Friday;
$Dow Jones Industrial Average(.DJI.US$ Attracting funds on Friday.
DJI > SPX > NDX
The market went all the way down after cutting the “Sky Pool” on Monday. During this period, we can see that some people in the pool have become part of the seller's force due to emotional effects. Although the market is currently oversold in the short term and there is a possibility of a rapid rebound in the short term, we still cannot ignore the potential selling pressure of nearly 2 months. I never smartly search for so-called support levels. Every bottom is decided by buyers and sellers of all market participants. At that time, the market may once again give a clear signal like the “O'Neill Rule” on November 2 last year. Patience is necessary, and at the same time Be prepared for the potential next upward wave, and when it arrives, there are endless opportunities.
NDX and SPX weekly charts:
From week to week...
“In the stock market, you can stand outside the market for free, watch and wait for the best time to bet. You can see the 'bottom card' of the market for free before placing a bet.” -Mark Minervini
A quick review of this week's markets:
$NASDAQ 100 Index(.NDX.US$ Dispatched on Wednesday and Friday;
$S&P 500 Index(.SPX.US$ Dispatched on Tuesday and Friday;
$Dow Jones Industrial Average(.DJI.US$ Attracting funds on Friday.
DJI > SPX > NDX
The market went all the way down after cutting the “Sky Pool” on Monday. During this period, we can see that some people in the pool have become part of the seller's force due to emotional effects. Although the market is currently oversold in the short term and there is a possibility of a rapid rebound in the short term, we still cannot ignore the potential selling pressure of nearly 2 months. I never smartly search for so-called support levels. Every bottom is decided by buyers and sellers of all market participants. At that time, the market may once again give a clear signal like the “O'Neill Rule” on November 2 last year. Patience is necessary, and at the same time Be prepared for the potential next upward wave, and when it arrives, there are endless opportunities.
NDX and SPX weekly charts:
From week to week...
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Jesse Livermore doesn't have modern technology, but still feels the need to take a vacation to avoid trading at the wrong time.
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