Replies to post #42017 on lowtrade

[lowtrade]

Yep, I'm still confident the S&P will break 1890 top resistance, even with the damn flux lately. And it's the most recent short term patterns which cause this projection.

Would like to reword this statement. Maybe confident was too strong. I should have said comfortable. LOL As while the chart is projecting top resistance break, the TA is yet to support that.

And charts give projected direction and targets. But TA determines entry/exit.

So for accuracy sake I should mention the TA is mixed. DMI is at a decision point, indicating a strong move one direction or the other soon. Leaning positive right now. While the 5,10,20 MAs are about a week away from decision point, leaning down.

Thus entry/exit indicators are still giving a flux continuation call.

Support indicators StochRSI and CMF are in a mixed bag, and conflicted, saying accumulation is presently taking place. A over all positive, for accumulation, that shows comfort at these price levels. While StochRSI is leaning neutral/negative support and CMF has good buying support @ .18/.2.

So while the chart looks good for continuation. The TA calls for a strong watch, not entry yet. Mixed bag or null over all.

Confident should have been comfortable. LOL That statement was a personal case of want, more then accuracy. Often a chartist error factor I try to not make!

Ps; I don't like the BBands haven't tightened yet either. Hope the actual direction decision is made soon and it's up per chart. Not more flux like TA. LOL I am re-entering early, from the side lines, on 2 stocks, so far. LOL