Quote Originally Posted by shawn_molodow View Post
Hi Billy,

I guess if we hold above YR1=85.68, we have a very strong bias is to the upside towards the next major cluster. We are past daily R3=85.62, so the daily levels for confirmation don't seem to apply.

Do you agree with the saying "From failed moves comes fast moves?" I heard this from Brian Shannon, not sure if he is credited with the term?

I guess the real Q here is.. if we fail here intraday, do you see a bias to reverse all the way back down to the major support levels around 82.19-82.28?

I am very, very long the market right now.. both robots and individual stocks..

Thanks,

Shawn
Shawn,

It will all depend on money flow. Large players have been selling from the open as indicated by intraday 20 DMF. But only very lightly.
In my own non-robotic view we have all the ingredients for the start of a pullback from here.
The robot tells me that, in the (likely) absence of a sell signal EOD, it will keep the same buy entry limit for tomorrow (83.06) with any close below YR1 (85.68). Any close at or above YR1 would give a buy entry limit tomorrow of 86.12.
But the LT/ST probabilities of such a long signal will be very weak.
The robot is nearing a sell signal and the best is to wait to see if it triggers within the next few days. Price might be higher than today when it does.
Billy