NotVerySmart2

Big Money Managers Are Cautiously Bullish - Barron's

In watching the price action late Friday afternoon (3 min. chart). I noticed a large sell off late in the day (typical), followed by a large buy of 1.4 M shares in the last 5 minutes, raising the price up to $108.29, then settling to 107.84 (not bad). This caused a “hook” to form on the MACD SMA (blue line) setting it to rise sharply above the LMA (red line) Monday morning. OBV says were at the beginning of another buy cycle. The Stochastic barometer indicates a short-term increase in price action is coming. Additionally, covered call ratings increase to 3 Keys, +15% next week indicated in futures. I wouldn’t be surprised if we saw $109 - $110 within first 30 Min of open.


For those TA’s interested, please review your charts. What do you think?