Wednesday, November 09, 2016 11:34:25 AM
SPX daily chart showing bulls need to achieve a lasting price advance above the several Moving Averages which are located in a relatively tight price range shown on the chart below ...
once a hold above these moving averages is actually achieved for multiple days going forward the bear scorch will likely accelerate: 1.) the speed and 2.) potentially the advancing distance by which the future price action moves to the upside
* if you think about: the 2008 to the end of 2014 - and the trending brutal SPX price advance, which was "the most hated rally of all time", then it is possible we will relive that again in the coming months as some folks are stuck and remain in disbelief mode ... if you want to make money, trade the price action because it is what it is. Nothing else matters. TA is all that matters. Predict only what is justified by sound and proven TA.
once a hold above these moving averages is actually achieved for multiple days going forward the bear scorch will likely accelerate: 1.) the speed and 2.) potentially the advancing distance by which the future price action moves to the upside
* if you think about: the 2008 to the end of 2014 - and the trending brutal SPX price advance, which was "the most hated rally of all time", then it is possible we will relive that again in the coming months as some folks are stuck and remain in disbelief mode ... if you want to make money, trade the price action because it is what it is. Nothing else matters. TA is all that matters. Predict only what is justified by sound and proven TA.
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