Hey Traders,
Got a little behind in posting some weekly look-backs and wanted to catch-up to this current week. I consolidated the "Weekly RSI Divergence" and the "elken(B)readth" charts into one.
We will be looking back at the week closes using my "blocker" rectangle; the obvious black-out on the right side of the chart. I will post from the start of the year to now (which is ~three weeks from quarter end).
Flour:
Blue is 20 Daily Moving Average
Red is 50 DMA
Yellow 100 DMA
Teal 200 DMA
Crust:
The
SPX
is shown in white. We will be focusing on the RSI divergences compared to the white line. The EMA's are there for reference.
Yeast:
Look for RSI divergence on the fast moving (B)readth BLUE line. This can indicate an upcoming change in market direction (and in this market it just might mean FLAT).
Please bear with me as I will try and post the rest of the weeks in update format to this idea to get us all caught up.
Got a little behind in posting some weekly look-backs and wanted to catch-up to this current week. I consolidated the "Weekly RSI Divergence" and the "elken(B)readth" charts into one.
We will be looking back at the week closes using my "blocker" rectangle; the obvious black-out on the right side of the chart. I will post from the start of the year to now (which is ~three weeks from quarter end).
Flour:
Blue is 20 Daily Moving Average
Red is 50 DMA
Yellow 100 DMA
Teal 200 DMA
Crust:
The
SPX
is shown in white. We will be focusing on the RSI divergences compared to the white line. The EMA's are there for reference. Yeast:
Look for RSI divergence on the fast moving (B)readth BLUE line. This can indicate an upcoming change in market direction (and in this market it just might mean FLAT).
Please bear with me as I will try and post the rest of the weeks in update format to this idea to get us all caught up.
Comment:
Looking at the first week I would probably be pretty bearish considering a sharp week close, with volume over 10 moving-average and the RSI only slightly moving down. It is a slight divergence. Let's look at the next week.
Comment:
Volume has MET the 10 MA on $SPX.
NOTE THAT THE 20 DMA INVERTED BELOW THE 50 DMA PERCENTAGE!
our elken(B)readth met the great crossing of the 20 and 50 DMA (percentage of stocks that are over 20 and 50 DMA on SPX) clashing with the 100 and 200 DMA lines like on every other correction during the bull run. This was a MAJOR move to 4398 weekly close!
Volume has MET the 10 MA on $SPX.
NOTE THAT THE 20 DMA INVERTED BELOW THE 50 DMA PERCENTAGE!
our elken(B)readth met the great crossing of the 20 and 50 DMA (percentage of stocks that are over 20 and 50 DMA on SPX) clashing with the 100 and 200 DMA lines like on every other correction during the bull run. This was a MAJOR move to 4398 weekly close!
Comment:
This is interesting.
LARGE volume, RSI divergence on the weekly close BUT the 20 did not get above the 50....this contradicts all the other corrections we have had in the past. It means this one is different.
This is interesting.
LARGE volume, RSI divergence on the weekly close BUT the 20 did not get above the 50....this contradicts all the other corrections we have had in the past. It means this one is different.
Comment:
We got the red light signal last week that I forgot to mention. That's based on the fact that we had TWO yellow lights. Market can only show so many yellow lights before red light is there and someone gonna cause a head-on collision.
20 DMA got to pre-drop 50 DMA levels but it hasn't exceeded that level like it usually has. This indicates weakness in this up move. Candles will show you the volatility.
We got the red light signal last week that I forgot to mention. That's based on the fact that we had TWO yellow lights. Market can only show so many yellow lights before red light is there and someone gonna cause a head-on collision.
20 DMA got to pre-drop 50 DMA levels but it hasn't exceeded that level like it usually has. This indicates weakness in this up move. Candles will show you the volatility.
Comment:
!!!!
Bearish:
20 DMA vs SPX Week Close divergence
Volume exceeding 10 MA
20 DMA still hasn't broken the 50 DMA previous range....
Bullish:
SPX RSi may look like a divergence but it drop .4% so it's "technically" not (if it was it would be bullish)
!!!!
Bearish:
20 DMA vs SPX Week Close divergence
Volume exceeding 10 MA
20 DMA still hasn't broken the 50 DMA previous range....
Bullish:
SPX RSi may look like a divergence but it drop .4% so it's "technically" not (if it was it would be bullish)
Comment:
Still BEARISH!
Still BEARISH!
Comment:
CAUTIOUS BULL
Slight SPX/RSI bull divergence...but not crazy
Bear scat:
20 DMA was DENIED access beyond previous 50 DMA range...
CAUTIOUS BULL
Slight SPX/RSI bull divergence...but not crazy
Bear scat:
20 DMA was DENIED access beyond previous 50 DMA range...
Comment:
Strong BEAR
Bearish:
a one-two punch of SPX/RSi divergence.
volume over 10 MA
ALL (B)readth DMA are RED (decreased)
Strong BEAR
Bearish:
a one-two punch of SPX/RSi divergence.
volume over 10 MA
ALL (B)readth DMA are RED (decreased)
Comment:
Well, WE MADE IT!
All caught up. This is the update for 03/13/2022
BEARISH
RED LIGHT SIGNAL
Until there is another divergence of some sort this indicator is bearish.
All caught up. This is the update for 03/13/2022
BEARISH
RED LIGHT SIGNAL
Until there is another divergence of some sort this indicator is bearish.
