Market Recap for Thursday, April 27, 2023

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SwingTradeBot over 1 year ago

What are your thoughts on 'today's (2023-04-27) market action?

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SwingScalp over 1 year ago

Caught me off-guard.  Quite a rally.

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TraderMike over 1 year ago

The fun/danger of the heart of earnings season!

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SwingScalp over 1 year ago

Interesting that 'Lower Bollinger Band Walk' (997) was so high on a big bullish day like yesterday.

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TraderMike over 1 year ago

Isn't that weird?  It goes along with the weakness in the small caps (IWM) and the fact that we've still got so many stocks under their 50-day moving averages.  The breadth of the market is still not very good.

Also note that I coded the Bollinger Band Walk signals to trigger if the stock touched (or was above the upper/below the lower) the band the last 2 days in a row or 3 of the last 4 days.  So for the Lower BB Walk even if a stock lifted off the lower band and didn't touch it, the signal would still appear if it had touched (or was below) the band the previous 3 days.

Nonetheless, after glancing at some of the Lower BB Walk charts from last night the vast majority did indeed touch their lower BBs

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SwingScalp over 1 year ago

Very interesting thanks for the keen insight TraderMike.

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