On every trading day, after market closes, I would choose 10 best tweets from the Fintwit World and rank them on thoughtfulness of their ideas and informative of their charts. Please tweet your nominations for Top Ten Tweets (TTT) to my account @MasterPandaWu.
4600 Recaptured: (1) now, the option that the first series of decline ended at 4495 has an upper hand, as 4600 has been retaken by bulls. (2) the dotted trendline may stop it for a while, before a resurge to 4650--61.8% retrace & major 2-hr resistance. (3) no resolution for EW.
$MMTW: (1) One of the major indicators I am watching closely for LT trend is $MMTW, the % of stocks above 20-day average. (2) it dipped much lower than a normal bottom during the bull-run, 15-20; hitting 8.96 this time & stay there much longer. (3) this, to me, is a game-changer.
Still Looks Unfinished: (1) SPX broke the downward trendline & 4600 level, but lost both in the end. (2) the decline from 4744 looks messy; the 4495 low is as unconvincing as the 4507 low, which I called "there is 0% it is THE low". (3) a deep retrace to <4550 would look better.