Home » Climbing the Wall of Fear

Climbing the Wall of Fear

by Admin
19 views

DecisionPoint Alert Logo

This morning I used to be at guardian’s home and my Dad chatted with me earlier than I left. He mentioned in so many phrases that I used to be most likely a bit too bearish proper now. It was doubtless in response to yesterday’s free article (and DP Alert opening) in regards to the diverging short- and intermediate-term indicators. I informed him I used to be cautiously bullish, however that one thing did not sit nicely with me after this week’s buying and selling, however I could not put my finger on it.

Carl informed me that he was wanting on the high ten capitalized shares within the S&P (they’re beneath) and the charts appeared bullish. These heavy hitters lead the market and if they’re doing nicely, the market tends to observe. I appeared on the CandleGlance beneath and I used to be struck by the identical ideas. Apart from META, the charts have been all bullish. All however META have garnered IT Pattern Mannequin “Silver Cross” BUY indicators (20-day EMA crosses above the 50-day EMA) and all are in rising short-term and even intermediate-term tendencies in some instances. Overhead resistance has been overcome by a handful (MSFT, AMZN and AAPL) and those who have not overcome resistance ranges, the symptoms recommend they may.

Do not get me fallacious, we each agree that the bear market is not doubtless over, however this appears to be like just like the rally ought to proceed. After reviewing the charts, I noticed my sticking level: the SPY’s lack of ability to beat resistance this week alongside Swenlin Buying and selling Oscillators (STOs) which can be pulling again. But, participation remains to be wholesome.

Usually instances, indicators will pullback out of overbought territory, mainly unwinding overbought circumstances whereas worth consolidates. This might be precisely what is going on. I’m reminded of the saying, “Climbing the Wall of Fear”.

Good Luck & Good Buying and selling!

Erin Swenlin



Technical Evaluation is a windsock, not a crystal ball. –Carl Swenlin


(c) Copyright 2022 DecisionPoint.com


Useful DecisionPoint Hyperlinks:

DecisionPoint Alert Chart List

DecisionPoint Golden Cross/Silver Cross Index Chart List

DecisionPoint Sector Chart List

DecisionPoint Chart Gallery

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)

ITBM and ITVM

SCTR Ranking

Bear Market Rules


DecisionPoint just isn’t a registered funding advisor. Funding and buying and selling selections are solely your accountability. DecisionPoint newsletters, blogs or web site supplies ought to NOT be interpreted as a advice or solicitation to purchase or promote any safety or to take any particular motion.

Erin Swenlin

In regards to the writer:
is a co-founder of the DecisionPoint.com web site alongside together with her father, Carl Swenlin. She launched the DecisionPoint day by day weblog in 2009 alongside Carl and now serves as a consulting technical analyst and weblog contributor at StockCharts.com. Erin is an energetic Member of the CMT Affiliation. She holds a Grasp’s diploma in Info Useful resource Administration from the Air Pressure Institute of Know-how in addition to a Bachelor’s diploma in Arithmetic from the College of Southern California.

Learn More

Subscribe to DecisionPoint to be notified each time a brand new publish is added to this weblog!

Source link

You may also like

Leave a Comment

TalkFinanceOnline

Financial Website related to crypto and preipo shares

@2021 – TalkFinanceOnline.com All Right Reserved. Designed and Developed by PrgWebTech