SPX500 DAILY chart - signs of topping
THE END OF THE 2ND BAT / W?
- .786 fib retracement from our highs since the 225 tick move down in August (2116.75)
- Top of our "tidy channel"
- Smaller green candles each rising day shows weakning momentum, doji showing indecision
- Loads of price action between 2100 and 1800:
- As of now, short at the top of this channel, long at the bottom, unbiased in the middle
- Expecting the unexpected on a day-day basis, though short for now
- RSI and MACD have reached levels that were last seen in our October rally
- In the days following these technicals:
- The RSI took 8 days to get to it's "happy medium" at 40
- The MACDs crossed 3 days later, beginning their descent down to 0, and eventually -48, converging only twice
- The two convergences of the MACDs were lower highs, followed by lower lows, watch for a similar pattern should we stick in this "tidy channel"
- Keep in mind, the daily 200ma isn't our strongest, and given a couple tests can be punctured, as seen between October and January
and as always, please feel free to discuss :)
happy trading!
- .786 fib retracement from our highs since the 225 tick move down in August (2116.75)
- Top of our "tidy channel"
- Smaller green candles each rising day shows weakning momentum, doji showing indecision
- Loads of price action between 2100 and 1800:
- As of now, short at the top of this channel, long at the bottom, unbiased in the middle
- Expecting the unexpected on a day-day basis, though short for now
- RSI and MACD have reached levels that were last seen in our October rally
- In the days following these technicals:
- The RSI took 8 days to get to it's "happy medium" at 40
- The MACDs crossed 3 days later, beginning their descent down to 0, and eventually -48, converging only twice
- The two convergences of the MACDs were lower highs, followed by lower lows, watch for a similar pattern should we stick in this "tidy channel"
- Keep in mind, the daily 200ma isn't our strongest, and given a couple tests can be punctured, as seen between October and January
and as always, please feel free to discuss :)
happy trading!
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.