nmike
Long

SPY monthly update

AMEX:SPY   SPDR S&P 500
894 17 14
The bullish trend continues. SPY             is currently above all blue averages with price close to a parallel CLONE trend line resistance. The Fisher is overextend but no bearish Fisher patterns or divergence. It will be interesting to see if history repeats itself and we get a similar Fisher topping pattern like the previous 2. The current Fisher peak could be the start of that pattern. If we break trend line B the next upside target is about the height of the A B channel.
....just a quick note, the NYSE is well above the previous high and candle stick price action continues to be bullish.
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2000 and SELL
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....the bulls still in charge
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....well folks ,same message as last one.....
and HAPPY HOLIDAYS, Nmike
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Merry Christmas!!
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..... the bulls march on, next near term target is the parallel Clone trend line

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Looking at Fisher (14), is see two bearish sign. Any opinion on this?

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@KevinT.......the Fisher(14) is too short unless you'er using it for short term trading.You should be using Fisher 34 for a longer term view.Remember that divergences must be supported by candle stick price action.Currently there is no major divergence on daily frame, there is a minor divergence in RSI but not supported by price action,furthermore SPY has broken out of a channel so expect further upside.

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KevinT nmike
Thanks. I also see the MA supports upside.
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Take a look at this:
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RSI, CCI, PPO - all 3 have started showing divergence, now all we need is a rollover on MACD which shall occur in next 2-4 months confirming start of BEAR market.... ONLY time will tell.
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