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
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
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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