EX100 Long wicks = Distribution!! Not Strength, triple top... whatever you call it... it is distribution!
Accumulation has few wicks because it is inefficient fills, so institutions are selling, not buying...
I'm Sell Sell Selling...
Friends,
I would like to consider the possibility that the SP500 Index might carve out a higher high, based on a set of technical conditions I will define below.
PREDICTIVE/FORECASTING MODEL:
First and foremost, the Predictive/Forecasting Model I use in the foreground of my analysis has defined a probable bullish target, namely:
- TG-Hix = 1063.34 -...
S&P100 Index is the basket that contains Huge and Large Caps - almost 50% of the US Equity Market.
At first view the area between 816 and 840 is extremely important for this Index. An invalidation of this support will be critical for the S&P100 and also for the entire US Equity Market.
You should keep an eye on this one too.
S&P100 Index large caps, to small caps Russell Index Ratio.
Brakeout 4/4/2014 downtrend_line.
Horizontal basing 2013, 50% retracement.
Holding the support, out-performance may continue.
RSI bullish divergence, holding uptrend_line support.
OEX is showing weakness however it is
still bullish above the cloud but under pressure.
If price closes below the Kijun line - blue line i will
buy a put spread with a target of 800 on the top of
the cloud for my target. Bias is still bullish though
