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Re: Lostcoastkid post# 15016

Wednesday, 05/18/2022 9:18:53 AM

Wednesday, May 18, 2022 9:18:53 AM

Post# of 18378
I have the BBs at 20,2 which are the default values in the TDA app.

On a broad perspective, if the overall market swoon continues the next leg down will take a lot of tickers along for the ride, regardless of how they are setting up. I’m seeing a mix of things holding up AND breaking down which tells me there is sector rotation going on and we’re looking for a bottom (and new leadership for inevitable next run up).

Over the next three days there is a downward bias in the Dow but not necessarily for the other markets. I’m kind of sitting still right now until we get a breakout one way or the other.

That volume spike right at the recent low (12.72) is still holding. As I’ve hinted before I think most of the real bad news for the sector is already out, that leaves only good news (from a relative perspective) to come so we’ll see. It seems to me that we’re in a sector vs market battle right now.