drewby4321

drewby4321

Trend lines drawn from 9/3 (36d), 9/24 bottom (22d), 10/12 pivot day (10d), 10/19 (5d), and today 10/23 (1 day). Friday, October 23, 2020 We were runnin' against the wind Facts: 0.37% higher, Volume lower, Closing range: 100%, Green Body: +11% Good: Held above key support at 21d EMA Bad: Low volume, not much price movement Highs/Lows: Higher high...

drewby4321

Trend lines drawn from 9/3 (35d), 9/24 bottom (21d), 10/12 pivot day (9d), 10/16 (5d), and today 10/22 (1 day). Thursday, October 22, 2020 Livin’ on a prayer. Facts: 0.19% higher, Volume lower, Closing range: 76%, Red Body: -12% Good: Reversed from morning lows to end day positive Bad: Dipped below 21d EMA Highs/Lows: Lower high, Lower low ...

drewby4321

Trend lines drawn from 9/3 (34d), 9/24 bottom (20d), 10/12 pivot day (8d), 10/15 (5d), and today 10/21 (1 day). Wednesday, October 21, 2020 Have you heard about the Lonesome Loser? He's a loser but he still keeps on trying. Facts: 0.28% lower, Volume lower, Closing range: 6%, Red Body: 33% Good: Still holding above 21d EMA Bad: Another choppy day...

drewby4321

Trend lines drawn from 9/3 (33d), 9/24 bottom (19d), 10/12 pivot day (7d), 10/14 (5d), and today 10/20 (1 day). Tuesday, October 20, 2020 I know why you want to hate me Facts: 0.33% higher, Volume higher, Closing range: 28%, Red Body: 9% Good: Stayed above yesterday’s low and holding above 21d EMA Bad: Very choppy day with selling into close ...

drewby4321

Trend lines drawn from 9/3 (32d), 9/24 bottom (18d), 10/12 pivot day (6d), 10/13 (5d), and today 10/19 (1 day). Monday, October 19, 2020 Pray tomorrow takes me higher Facts: 1.65% lower, Volume higher, Closing range: 8%, Red Body: 78% Good: Held above 21d EMA , volume still not super high Bad: Almost everything, start up 1% but go down the whole day ...

drewby4321

This is a first attempt at writing up my weekend homework. I look back over the week and review what happened in the market. What were my expectations each day and then what actually happened? What can I learn from expectation breakers? And then I look at what is coming in the week ahead. Monday, October 12, 2020 I'm a keep on chillin', refillin' and flyin'...

drewby4321

Trend lines drawn from 9/3 (31d), 9/24 bottom (17d), 10/12 (5d), and today 10/16 (1 day). The Nasdaq index action today gave us a great summary of the entire week. An amazing start, and a very disappointing end. Just as Monday was an amazing start to the week, today's morning saw gains of over 1% only to disappoint with -0.36% loss by the end of the day. The...

drewby4321

It was a back and forth week with Technology (XLK), Utilities (XLU) and Energy (XLE) all fighting for the top spot. Even Industrials (XLI) made a late effort to end the week at the top. In the end, the safe haven of Utilities (XLU) won the week as investors fled more volatile stocks for something that everyone needs going into the winter. Heat! Communication...

drewby4321

Trend lines drawn from 9/3 (30d), 9/24 bottom (16d), 10/9 (5d), 10/12 pivot (4d) and today 10/15 (1 day). The Nasdaq took another small step back having dropped -0.47% but recovering from a much lower morning. It did undermine the low from Monday's follow-thru day. The bullish candle has a 85% green body with a strong 85% closing range after falling off a bit...

drewby4321

Trend lines drawn from 9/3 (29d), 9/24 bottom (15d), 10/8 (5d) and today 10/14 (1 day). The Nasdaq continued to rest from it's recent aggressive gains, dropping -0.8%. It's still trading within the highs and lows of the bullish day on Monday. The candle has a 53% Red body with a bearish 24% closing range on lower volume than the previous two days. Declining...

drewby4321

Trend lines drawn from 9/3 (28d), 9/24 bottom (14d), 10/7 (5d) and today 10/13 (1 day). The Nasdaq took a breather from the previous days big gains. The index dropped back -0.1% with an inside day. The 30% red body shows some indecision throughout the day with a lean toward bearish in the 34% closing range. It would be better to have that closing range be at...

drewby4321

Just an interesting look at how value stocks have been left behind as money flows into presumably the growth stocks. That intuitively makes sense, but 2020 has been particular hard on value stocks. If you are a value investor, you must be shopping quite heavily now, knowing your day is coming.

drewby4321

(Publishing this again due to errors in my indicator) Trend lines drawn from 9/3 (27d), 9/24 bottom (13d), 10/6 (5d) and today 10/12 (1 day). It was a magnificent start to the week for the Nasdaq with a gap up and +2.56% gain on higher volume. A confirmed FTD for those who follow CANSLIM and IBD. The candle has a solid green body with a 66% closing range,...

drewby4321

Trend lines drawn from 9/3 (27d), 9/24 bottom (13d), 10/6 (5d) and today 10/12 (1 day). It was a magnificent start to the week for the Nasdaq with a gap up and +3.16 gain on higher volume. A confirmed FTD for those who follow CANSLIM and IBD. The candle has a fat green body with a 93% closing range and tiny wicks at the top and bottom. It was upward most of the...

drewby4321

Utilities (XLU) was the steady winner throughout the week, even during the pullback caused by fears of no stimulus deal being reached. For money that wants to stay in equities in lieu of low interest rates and uncertain inflation, utilities is seen as the safest sector. So even as stimulus fears mounted, XLU continued to stay strong compared to the S&P 500. ...

drewby4321

Trend lines drawn from 9/3 (26d), 9/24 bottom (12d), 10/5 (5d) and today 10/9 (1 day). The Nasdaq topped off a +5% week with another gain on hopes of an economic stimulus. Gains were 1.39% for the index, but on lower volume (note that my indicator volume is based on QQQ). The day was almost upward the entire time with a 88% green body candle, small bottom wick...

drewby4321

Trend lines drawn from 9/3 (25d), 9/24 bottom (11d), 10/2 (5d) and today 10/8 (1 day). The Nasdaq took a rest today, relative to the last few days. A nice gain of 0.5% was fairly maintained throughout the day. Most of the action was within the 37% body and shows in the middle closing range was 57%. VIX also declined 6% as a result of the tighter price range...

drewby4321

Trend lines drawn from 9/3 (24d), 9/24 bottom (10d), 10/1 (5d) and today 10/7 (1 day). The Nasdaq recovered nicely today from the previous day sell-off, ending with gains of 1.88%. Volume was lower than previous days, and the candle was inside the previous days highs and lows, indicating some indecision. Otherwise, it was a 76% green body with a great closing...