Monday, April 01, 2024 9:41:28 AM
" So, as I've also written before, bears probably want to await an impulsive decline before getting too far ahead of the market. Bull markets can be somewhat boring, since the basic rule is just "follow the trend," but we'll continue to keep our eyes peeled for any interesting developments, nonetheless."
http://www.pretzelcharts.com/
"Last update discussed that bears had work to do if they wanted to get anything going -- specifically, that they would first need to break below the blue trend line on the near-term SPX chart:"
"Typical of bears, though, they decided to knock off early for Easter weekend and thus failed to accomplish anything at all, allowing bulls to score another easy first down. It's worth noting that the blue trend line will not be as important heading into today's session.
Bigger picture, the blue bull count and the (still ultimately bullish) diagonal remain the leaders, for now, with the black bear option probably placing as a distant third:"
"Assuming my assessment of those odds is correct, we can see on the chart that bears might have to wait quite a while before getting much beyond some near-term moves, as I've discussed before. So, as I've also written before, bears probably want to await an impulsive decline before getting too far ahead of the market. Bull markets can be somewhat boring, since the basic rule is just "follow the trend," but we'll continue to keep our eyes peeled for any interesting developments, nonetheless. Trade safe."
http://www.pretzelcharts.com/
"Last update discussed that bears had work to do if they wanted to get anything going -- specifically, that they would first need to break below the blue trend line on the near-term SPX chart:"
"Typical of bears, though, they decided to knock off early for Easter weekend and thus failed to accomplish anything at all, allowing bulls to score another easy first down. It's worth noting that the blue trend line will not be as important heading into today's session.
Bigger picture, the blue bull count and the (still ultimately bullish) diagonal remain the leaders, for now, with the black bear option probably placing as a distant third:"
"Assuming my assessment of those odds is correct, we can see on the chart that bears might have to wait quite a while before getting much beyond some near-term moves, as I've discussed before. So, as I've also written before, bears probably want to await an impulsive decline before getting too far ahead of the market. Bull markets can be somewhat boring, since the basic rule is just "follow the trend," but we'll continue to keep our eyes peeled for any interesting developments, nonetheless. Trade safe."
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