| | | failed horizontal break ups, all around using daily charts with the prior all time record high noted on each index chart
status so far today, 10:43 Eastern Friday August 27
notable "slam down" for $OEX $COMPQ and a mild slam down for $NDX
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59% = percentage of S&P 500 stocks above their 20-day EMA, Aug 26 close
52% = percentage of S&P 100 stocks above their 20-day EMA, Aug 26 close
** both characterized by lower highs negative divergence in
August vs. $SPX price action higher price highs in August
stockcharts.com
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| To: rimshot who wrote (34937) | 8/27/2021 10:21:03 AM | | From: rimshot | 1 Recommendation Read Replies (1) of 34971 | | | plus 2215 = $NYAD day high, so far, just now printed ( sell SPY short signal / test of 448.86 almost a sure bet, eventually )
stockcharts.com
* does not conform to the WSJ #
4505.16 = $SPX August intraday high so far / SPY 449.86
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SPY daily for 3 months with some of Scott's indicator settings -
* bulls still have indicators needing to print daily closes which actually negate their
current cautionary condition setup
consistent lower highs over the days / weeks by the indicators are a strong negative
divergence until actually negated by the chart location for the daily closes for each indicator
stockcharts.com
chart #2 - SPY daily 21,2 %B vigilance going forward has much merit for traders / investors
stockcharts.com
*** remember, the look-back mode on this chart is merely providing the daily close prints
for the %B, not the full intraday highs or lows
for the %B which are now invisible after the fact
the 15,2 %B reveals the consistent selling / distribution
during the intraday price highs each day in recent weeks
SPY SCTR value above 90 is usually an advancing deal-killer only in the very near-term based on long-term history
The Stockscharts Technical Rank (SCTR) assigns a value of zero to 99.99,
which shows how a stock ranks in terms of technical strength.
The ranking utilizes past price performance, based on six technical criteria.
A ranking of zero indicates the stock is the weakest in the group, technically speaking. |
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