The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: RWS who wrote (54884)	7/29/2019 1:05:52 AM
From: Doug R	Read Replies (2) of 79230

It looks like things are about to get real interesting. SPX 3mRSI is working on an 8 month long paste with a hitch and a downward reset hitch. In fact...this technical situation is unprecedented in at least the last 30 years. If the market wants to start taking out these lines...first the reset line...then the trigger line...........and the Fed doesn't get in the way. Yikes. If the market can't take out these lines..... Yikes. They do represent a build of negative divergence. This is quite the point in time. If the Fed wants it to go....it'll go. It's teed up to break the negative divergence trendline...or not. Personally, I think the Fed has no choice but to avoid even a normal correction much less a deep correction. Worldwide and solar systemwide events are too close to overtaking things. It's hard to say when they will...but they will. And I'm sure the Fed knows it. But this would be a bad time for them to do something stupid.

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