Why did you arbitrarily exclude the fact that the market pushed prices well beneath your support line? Even the shadows count as viable information because the market still took us there and it did for a reason. If you included that, you’d see no divergence.
We’re going sideways, folks. Just accept that. You’re going to see the most similar narrowing of trading ranges as it approaches the wedging point, and we’ll either get a break down or breakout. (My money’s on breakdown)
It’s just that simple. We are consolidating right now. We will be consolidating for a while longer unless the rest of this week can hold after crossing breakdown territory (sub 24,300).
Either way, the stagnation on gains and volatility are enough to shake people out to the bond markets.
cjw226
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The bearish diversion on the 1 month chart though...
toothpasta1
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@cjw226,
Ahahaha I know! My concern is that the bearish monthly divergence is stronger then a daily bullish divergence; so maybe we'll see a small pop followed by a continual down trend. To be honest, I've never seen divergence like that on the monthly scale, so I'm watching closely to see how things pan out.
Princessgirl
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I also think this will go back up on Tuesday or Wednesday, topping up around the Dec 17th or 18th. Then go back down after that. After Christmas and into the new year, I think it will will go up slightly to the 25500 and then fall around 2700-3000 points.
We’re going sideways, folks. Just accept that. You’re going to see the most similar narrowing of trading ranges as it approaches the wedging point, and we’ll either get a break down or breakout. (My money’s on breakdown)
It’s just that simple. We are consolidating right now. We will be consolidating for a while longer unless the rest of this week can hold after crossing breakdown territory (sub 24,300).
Either way, the stagnation on gains and volatility are enough to shake people out to the bond markets.