Mark Ungewitter
@mark_ungewitte1
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Add price momentum to the growing list of bullish evidence. Extensive lookback from the one and only @SubuTrade
Strong momentum: S&P 500 rallied from -13% below its 200 day moving average to +3% above it. Stocks tend to go higher over the following months. h/t @mark_ungewitter
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Comment: GLD is not the entire gold market, but may reflect overall sentiment.
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As a slow adopter, I’m just beginning to use anchored VWAP. Let’s see if it helps navigate GLD.
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Executive summary:
Buying at 3270 exhausted. 3330 needs to be reclaimed to bring market back to neutral $GC_F $XAUUSD
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So far, so good.
Wednesday Earnings: Microsoft (MSFT), Meta (META). Thursday Earnings: Apple (AAPL), Amazon (AMZN),
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First evidence of extreme greed following extreme fear is not necessarily bearish. Sentiment thrust, anyone?
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“Life is short, if you're a jerk, you'll be unceremoniously blocked.” –@RenMacLLC
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Good point regarding asymmetry. The greatest momentum occurs early in a cyclical advance and late in a cyclical decline. It’s easy to spot a new advance but dangerous to catch a falling knife. There is no downside equivalent to breadth thrust, as things can always get worse.
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Is NDX/SPX kaput, or just reverting to long-term trend? 🤔
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In recent decades, GLD reversals from parabolic ascents have produced multi-month consolidations. Different this time?
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This peculiar stalemate – where both parties seek the same outcome, but neither wants to be the first to suggest it – has resulted in a tactic of "constructive ambiguity": the deliberate use of language so vague that each party could arguably claim to be in the right.
Talks or no talks: who blinks first in US-China trade war?
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Bull market renewal? Evidence is mounting, yet not overwhelming. Comment: Asset allocation isn’t binary. There are plenty of settings between 0% and 100%.
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Today's 1.84 reading fell short of the Breakaway Momentum threshold of 1.97 -- and it's mathematically impossible for it to get above 1.97 tomorrow. So we have a ZBT but two near-misses, BAM and a Whaley Breadth Thrust to deal with. I report; you decide... See
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What happens when NYSE 10-day A/D ratio undershoots Breakaway Momentum but exceeds 1.83? One major fail, five false starts, and four great signals since 1960. Never a lay-up, is it?
Today's 1.84 reading fell short of the Breakaway Momentum threshold of 1.97 -- and it's mathematically impossible for it to get above 1.97 tomorrow. So we have a ZBT but two near-misses, BAM and a Whaley Breadth Thrust to deal with. I report; you decide... See
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