P&S and STO Death Blow's Message Board

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Strategies & Market Trends : P&S and STO Death Blow's

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To: ajtj99 who wrote (24316)	1/15/2003 4:12:34 PM
From: herry iball	Read Replies (1) of 30712

AJ....I have to disagree about your statement... the big honkin' divergence on SPX daily from Nov - Dec highs was a great sign to go short....and the divergence was 'fulfilled' by the downdraft to Dec 31 lows: share.esignal.com Since then, I have no divergences on the daily, but there have been some on the 60 Minute: share.esignal.com First divergence sold off to the 50ema, second selloff in progress, but broke below 50ema, and Blau Oscillator broke below centerline this time. Although I don't see Mish's divergences all over the place, I do think that the risk-to-reward is best served by noting and respecting them. Also note that there is a divergence on the depth of the selloff, with price making a higher low and Stochastic making a lower low. Theoretically, this divergence too should lead to deeper selloff (especially in the light of the 50ma break and Blau centerline break)....but it'sa ka-RAY-zee market, so who can say. Frankly, there's the possibility of a POSITIVE divergence building on the SPX daily, but this current selloff (and bounce) will be the key...

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