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Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis - Page 414

RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis

Has anyone had large pullbacks today?  I'm looking at 7%-8% across multiple stocks in multiple areas. I was stopped out of a couple of positions and reduced position size in another. Yet the main indicies show nothing of the sort.

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RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis

Yup, I had a nasty, nasty day today; stopped out of multiple positions, licking wounds and hoping tomorrow is better.

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RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis

(2021-02-23, 07:51 PM)Sartois Wrote: Yup, I had a nasty, nasty day today; stopped out of multiple positions, licking wounds and hoping tomorrow is better.

Yes.  Is this a shakeout or stop loss hunt, assuming these are real and just not paranoia? But where does the money come from for such shifts? I saw this on my UK ETFs and Investment Trust in the morning (UK) but then on US shares (morning US, but afternoon UK).  Some have had simple large drops, but some have made hammers, I've got one that is up from yesterday after making a hammer with a long tail (handle?).  Some are on low volume, some on high volume.  My breadth charts had been showing some weakening, but no reason to run away.

The real challenge, if not stopped out, is whether to sell or hold.  I'm suspecting that we are having a pullback from some of my positions now that it is later in the day, but it did not feel like that earlier on.

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RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis

I'm not sure to be honest - the S&P500 is currently up which is crazy given the absolute hammering that it took earlier today.

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RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis

I was also surprised to see the S&P up for the day.

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RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis

I think the markets were reassured by the Fed Chair saying that cheap money was still going to be available for a while; still, that's a precarious way to run things imo. Smile

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Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis

Percentage of Stocks above their 20 day EMA

Relative weakness in the Nasdaq compared to the NYSE. Small caps leading currently.

The ideal place to buy for position trades and longer term investing is when all areas of the market are in the lower zone below the 30% level

               

#stocks #trading #nyse #nasdaq #sp500

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