So, wassup here, ladies and gents... Just as I was about to become convinced that bulls own the trend - I realised, that consensual confidence aside, there was no real progress in weeks. SPX could be one negative day away from issuing an MACD (12, 26, 9) sell signal. This time of the year - historically - such a signal often used to mark the change towards negative seasonality... much studied by Sy Harding.
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SPX needs to show strength in order to avoid getting stuck in this potential down channel:
stockcharts.com[r,a]daclyyay[pb50!b200][vc60][iub14!la12,26,9][J49085868,Y]&listNum=1
Short term SPX sports a strangeish broadening formation, consisting of a series of "threes". (Is there such a thing as a broadening ED?). So far, it kept making higher highs, and managed to avoid lower lows, even though today it came close to making one. Note the negative momentum divergences.
stockcharts.com[p,a]eaclyyay[d40][pb50!b200][vc60][iub14!la12,26,9][j49085868,y]&listNum=1 |
