Internal strength remains weak despite the SPIKE higher in the SP500. As trend of stocks above 200-days Average remains diverging. I would like to see black line breaks above its descending trend line to negate this bearish signal. Until then, I am not a buyer, i remain unconvinced and strongly cautious on this bullish run. If this divergence persists for a longer time, the following correction will probably be more severe.
Comments
samitrading
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Hey Technician what's up,
how strong is the relation between divergences of this indicator and spx.
wish you the best.
TASAVANT
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Will do thanks.
Technician
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Unfortunately, couldn't find advance/decline lines on tradingview. It would be nice if you post this idea at the community-powered support page, link to it is located at the footer of pages.
TASAVANT
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Did not know this data was available within Tradingview, good stuff. Do you know if advance/decline data is also available?
how strong is the relation between divergences of this indicator and spx.
wish you the best.