Finally, some green splotches in our otherwise sea of red in the market conditions section of our Chaikin Analytics fan site! Although SPY price has recovered to just above a now-uptrending short term Chaikin trendline, with money flow persistently soft and the oscillator overbought, the risk-reward doesn't favor chasing bullish trades here. We'd expect some retracement at light volume if the lows of Christmas eve are truly the lows. There is significant overhead resistance in the 2600 area and an opportunity to look for set-ups from our Bearish Chaikin watch-list.
Yesterday's Macro-Monday video uncovered a possible longer term trade opportunity in Emerging Markets. We're not uptrending yet, but significant lows seems to have held.
Yesterday's Macro-Monday video uncovered a possible longer term trade opportunity in Emerging Markets. We're not uptrending yet, but significant lows seems to have held.
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