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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Magnatizer who wrote (74161)	3/8/2024 8:37:12 PM
From: Magnatizer	1 Recommendation Recommended By Doug R Read Replies (1) \| Respond to of 79450

Weekly Some warning flares this week. nothing yelling short but certainly enough to warrant caution on the long side. DJI: tradingview.com Negatives: CCI turning down away from +200 level we have negative divergence. Horizontal breakout failed. Rolling down off of yellow uptrend test. Positive/Neutral: Still above the recent uptrend channel low and bottom of horizontal though I think we're almost certain to see them both tested soon. SPX: tradingview.com Negatives: CCI failed to get through +200 again. Overhead uptrend that held resistance in Jan 22 was stiff again. Positive/Neutral: cross bar coming in late March, down into it is the preferred set up. Would also give sentiment a chance to reset. NDQ: tradingview.com Negative: potential for negative divergence back in play. Neutral: Closed dead nuts on the uptrend which is about as neutral as this thing gets SOX: tradingview.com That's one way to do it. A very impressive spinning top with a sniff of the top of the uptrend channel and a close just below it. Turning down from an uptrend sniff is generally a sign we're going to see a correction. If this confirms next week I'd expect to see upper 3000s retested. Positive: Did use key uptrend as support on testing and CCI stayed hot though turned down. DJT: tradingview.com you'd of thought the old man kicking people off his lawn would fire up activity in all the indexes to end the week but even that couldn't wake DJT. RUT: tradingview.com So you're telling me there's a chance... And, Lucy pulls the ball again... Another one with potential neg divergence ME: tradingview.com UGL: tradingview.com CCI hot, the dashed white line is a spit ball at a potential low for the next signal bar. I'd be a bit surprised but that old man screaming at the country might have just doubled down on the flight to safety.