PG hitting 52 week highs, you can see the bulls are losing steam as the RSI and MACD are making lower highs, the last daily candle got pushed down hard at the resistance line, looking for anther bearish daily candle for confirmation. I think we could easily see 104 in the coming days, the market as a whole is looking prime for a pullback. If we break trend line...
INTC has painted a perfect cup and handle pattern for us, as you can see we have closed right at our pivot point so we should see some type of breakout or rejection from this level..Ill be looking for a break of 48$ to enter my long position with my first target being 49.50 with a final target around R2 or 55$...I trade options so ill be looking at calls with a...
pretty simple set up ill be looking for a break above 10.57 to go long, if the scenario ends up a bearish one ill look for a break of that pivot level to take us down to S1 or that red support for a 3rd test 9.50-9.60 area, would be a great spot to get bullish again if we test and hold that 9.50-9.60 area
SPY has made a series of higher highs while indicators are making lower highs, generally this type of bearish divergence indicates that bullish momentum is slowing down and a move to the downside in the near future...although this contradicts what the MAs indicate i still believe we will see a big move to the downside very soon.
