Casey_Yeo
Short

S&P 500

SP:SPX   S&P 500 Index
Market seems to have stalled around 2000-2010 level. Bearish pin bar formed at this key level. This may be due to profit taking on Friday before the weekend. Or this may be the beginning of a reversal/correction. RSI is showing bearish divergence.

Word of caution: This is counter-trend, and it is counter to a super uptrend. The potential risk-reward ratio may make this a worthwhile bet.

Related Ideas

TP hit. I am really a lucky boy.
Reply
KevinT Casey_Yeo
Congrats!
Reply
Ok. Now seriouse. Have a look at the previouse pinbars that are the same as this one. Sitting on the same level as previouse top. The rate of succes is not good.

8 May 2014
30 June

Be cautious with this one. May be just whip sawing between 1980 and 2010 if the pull back comes.
Reply
Thanks for your comments. I respect your view on divergence. I have not used MACD before (I'm assuming it is MACD in your image link above). Forgot to mention that the recent swing low around 1979 is target 1 where SL will be moved to BE. Let's see how this turns out.
Reply
I was lcuky to get a print screen of Marc Faber's system

http://a.disquscdn.com/uploads/mediaembed/images/1309/8576/original.jpg
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out