ST trend: up Yesterday we were noting that the ST trend was neutral, but the set up was there for a bigger correction. ML did give way and we did get a decent decline, until the market found a bottom at an unconfirmed low on FGSI (alerted in real time in the mcm chat room). […]
ST trend: neutral (with bigger correction potential) On Friday we were noting that the trend was still up, as ML continued to hold and FGSI continued to paint confirmed highs. That pointed to the usual upward bias going into a long w/e will play out and indeed it has, with the market finishing with a […]
The past week (21-25th of June) we had a very strong week and a powerful melt-up off Sunday's OPEX lows. Those lows were announced on Monday in the am on the daily blog post with the mention "This set up has the potential to mark an important bottom and trigger an explosive bounce". That came […]
ST trend: down, with potential bounce attempt Yesterday we were noting that the ST trend was neutral as both sides were inefficient, as shown by FGSI (something which is happening quite often in the o/n as of late). The market had a big pop prior to the open, then a few whipsaws before finally dropping […]
ST trend: neutral Yesterday we were noting that the trend was up, but with a potential reversal pattern, as all GSIs were showing unconfirmed highs at the o/n high. That did prove to be a bad omen for buyers and the market proceeded to then retrace the entire rocket launch move from Monday's last 2 […]
Last week we had fireworks again, with the first 3 days being very bearish, while Thu-Fri provided a vertical V-shape rebound, with up gaps on the cash sessions on both days. There were quite a lot of great tells from the mcm tools, so let's dive right into the "lessons learned". IGSI unconfirmed low set-up […]
ST trend: neutral Yesterday we were noting that the ST trend was down, as buyers were showing large inefficiency on bounces and FGSI never touched the extreme pessimism (green) zone. That happened close to 6am and FGSI then had an unconfirmed low, which pointed to a potential ST bottom. From there the market ran back […]
ST trend: up (with potential pullback risk) On Friday we were noting that the trend was down with a potential bottoming attempt and indeed the market found its footing in the morning and then grinded up throughout the day. It continued higher on Sunday, but then retreated after touching the area close to the ATH. […]
Last week we had one of my favorite low risk set-ups, namely the Maginot Line (ML) "return to mean" trade. Actually it is a return to ML trade, but it works like a return to mean. This set-up basically states that whenever price gets too far (meaning more than 30-40 points) from ML, either on […]
ST trend: down (with potential bottom attempt) Yesterday we were noting that the trend was up as sellers were very inefficient on bounces. That played out nicely until SPX cash hit new ATHs. After that we noted live in the chat room that a low risk set-up for a short was arising. Price was significantly […]