A few tips from the Magician
- Know the support and resistance levels of your stock and the index it trades in.
- Consider that bp is just the percentage of stocks in a group having a PnF buy signal. Once a stock has a buy signal it can rise more without giving another signal, and - it can drop [sometimes a lot] without reversing that buy signal. that's why bpNYSE changes slowly.
- A high closing trin means selling is isolated to a few stocks. A bounce is imminent. Real decline will begin with 2 billion share day, a 4% loss but with a trin closer to 1.25. That is a sign of forced liquidation across the board not just dumping a few stocks.
- High uptick may be short covering.
- ADX<20 is a weak trend ADX>40 is a strong trend
- Equity Put/Call<.40 is bearish Equity Put/Call>.7 is bullish
- Index Put/Call<.75 is bearish Index Put/Call>1.5 is bullish
- Donchian Breakout
Buy=close above highest high in 20day
Sell=close below lowest low in 20day