$IWM with the pullback today back under the 200 day MA, its defined the top of the developing intraday Stage 1 base on the 2 hour timeframe.
$SPY holding up in the upper part of the fledgling intraday Stage 1 range. Showing strong RS compared to other areas of the market. My working theory remains that we are in a developing trading range until proven otherwise.
$VIX with only a small move today compared to what's happening in the individual stocks today. So a minor positive divergence.
$EXTR highlighted multiple times over the last month in the watchlist with strong RS today to new highs
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
PLAB - highlighting again today, as it held up well in the upper range of yesterdays gap up Significant Bar (SB). So on watch for fishhook type move through the SB close on strong relative volume.
$ORCL moving over 10% in the after hours following earnings results. Currently trading back at $98, so potential for an earnings gaps Significant Bar tomorrow.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
An interesting end to the week with Mega cap and Large cap strength showing through with the S&P 500 showing the strongest RS of the indexes and also notable strength in some of the mega cap stocks.
Indexes in intraday Stage 1 and S&P 500 attempting to push to Stage 2 again.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
I wanted to follow up on $SBLK as it's a really good example of combining the Stage Analysis (SA) & Wyckoff methods using a multi timeframe approach.
The SA secondary entry point formed in the Backup (BU) range after rebounding at the top of the base.
(2021-11-25, 09:05 PM)isatrader Wrote: I highlighted the intraday Stage 2A breakout on SBLK yesterday and talked through it in detail in the midweek video. Currently it's in Stage 3 on the major weekly timeframe, but on the daily chart it had a Reversal Significant Bar on its heaviest ever daily volume. So a potential first sign of a short term trend change, and hence for longer term position traders it's a reference point to start observing the price and volume from more closely to see if it might be showing signs of accumulation. Swing traders on the other hand, it's in the SOS rally part of the base structure (Phase D), so further early entry points may develop.
The SATA score currently is only a 2 out of 5, as the group and the sector are both underperforming the S&P 500, but they are in range of their zero lines (52 week RS MA), and so the Technical Attributes could potentially improve in the coming months.
So I'm highlighting this one quite early, but it has made a Spring and Test at the 200 day MA, and so could be a Last Point of Support (LPS) in Phase C. But needs some more positive developments to validate that theory.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
