The 4 Characteristics of Strong Breakouts
Breakouts of long bases on strong volume are frequent harbingers of continued price appreciation.
6th best start in 56 years
It was another up-session and the market finished an excellent week…
Unsatisfying up-day
I would call yesterday an unsatisfying up-day…
5-week rally intact
The indices continued their five-week rally, surging ahead for most of the session, with a mid-day respite.
Late session strength continues rally
Another up-day for the indices as the week got started on a positive note…
If this continues, the pattern stays bullish
Even though the day started out with a pretty sharp move down on the S&P, the NDX held up a lot better and held the rising trendlines of the last few days.
Here’s what’s bullish about today’s market
The market did well to not break support and not give back much of the gains.
Here are the next levels for the S&P and Nasdaq to hit
Stepping back and reviewing the overall patterns, the market had a very convincing up-day.
This is an important low, here’s why
If this isn’t a short-term bottom, I don’t know what is! It certainly smacks of another important October low.
Here’s the next level for the S&P to rally to
Stepping back and reviewing the hourly chart patterns, the indices followed through on Thursday and Friday’s rally.
Here’s how this rally goes further
Although they were severely tested mid-day, the indices came through with flying colors and ended up positive on day.
Harry’s list:
JMDT |
MNTA |
REDF |
more
With resistance broken, here’s what’s next
Monday we’ll be back watching for a rally extension & to see if the indices can take out further overhead price resistance.