FX:SPX500 S&P 500 index of US listed shares
Check up NAS , SPY or any other and look out for negative divergence. is already cooling down and did not go that far as the prices of the indices went. If BABA IPO fails, and something major happens it will be a good reason to sell off the markets. The uptrend in the recent months has been slowish, and the whole feeling of the market is overbought for me. Guts tell to go short is better risk/reward than putting bets on a run.
I sometimes have this trouble too. Here is your chart with the 10 ema removed. Much better. Moving averages will sometimes do this to charts. I looked at this chart when you published it but honestly thought you intended it to be that way. Yet, it was so squished I had no idea what you were trying to show. Now I know this was a mistake;I should have asked . Here it is as intended -ema and a little change to divergent line. That light blue had to go . :-(( :-)