The "Know Sure Thing" Indicator, has correctly identified a Sell Signal on the S+P 500, and more importantly has,done so, at and near historic all time highs.
Shown here, and highlighted in my last post on July 8,2019 the 60 Minute "Know Sure Thing" Indicator crossed over on Monday's market sell off, confirming evidence, of a short term bearish trend reversal in the S+P 500.
60 Minute Price Evidence ( Shown Here on Chart) further suggests,that any downside break of S+P 2970 this week, would then be a potential chart, and momentum set up, to target the very important July 1,2019 Low of 2952.22.. next.
Looks to be like an almost identical setup as we were about a month ago: bearish until the Fed speaks then rebound. Hopefully in this case for us investors, he says something to hint at a cut this week (for the end of the month), when he testifies in-front of Congress. If not, it'll be a pretty poor month as we likely parallel the lack of gains that we had in late May and give back 6-7%.
FxCanli
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Nice Analysis, I leave like to your chart, leave us a like aswell please :)
cctran1973
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What settings are you using for the above KST indicator?
Looks to be like an almost identical setup as we were about a month ago: bearish until the Fed speaks then rebound. Hopefully in this case for us investors, he says something to hint at a cut this week (for the end of the month), when he testifies in-front of Congress. If not, it'll be a pretty poor month as we likely parallel the lack of gains that we had in late May and give back 6-7%.