$spy $spx $dji $ndx The selling is allowing more buying..big buying.. prepare for more volatility and shakeouts. S&P wants 3000+
hidden bear divergence puts prices lower from here.. might be a quick drop. But looks like we may have a better test of the upper TL resistance before the larger drop:
my april 27 update appears wrong. Go back to April 25.. that appears to be the case:
tricksy false, sneaky
spx room for bear divergence 4hr
puzzled I am.. one might conclude SPY is breaking out.. I still hold to the belief that the market goes higher this year.. I believe we'll see new highs but my attention is drawn to this chart:
Disagree, almost every stock is overpriced and overbought. SPX is likely to climb now to 2750 in best case scenario, but will probably go down in a similar way that Bitcoin went down the last months. Gold and silver will rise in my opinion.
@matteok, I agree with you that stocks are overpriced... and that's why we're having this correction but I don't think we've peaked yet. Study the previous market tops and you'll see that you normally get some exhaustive/much needed corrections prior to peak.. sideways movement, sharp ups/downs before it rolls over.
@gghsusa, Do agree that it is possible that we don't have peaked yet if you look at previous tops, but with the fundamantals of today... I don't have a lot of faith in it. I am only opening new shorts, will not buy anything before I have 100% confirmation that we are still in uptrend.
@matteok, thanks.. and I sure hope so too. It helps give a little perspective to pull up the monthly chart every now and then on heikin ashi candles.. it's like stopping a train - it's going to take a while to stop