The S&P fell under the 1000 mark, tested it later in the day and was rejected.
We continued making lower lows through the morning in the SPY on a bullish momentum divergence. The easy plays were in the early sell-off, while trying to play a counter-trend recovery got very choppy. The testing of $100 was met with a bearish momentum divergence, where we got three pushes to test this level, but couldn't close above it.
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I mentioned yesterday the 60-min chart that was setting up to either correct lower or push higher based on the 3/10 macd. Here's where you see the example of how the fast line corrected off of the slow line as price sold lower. Meanwhile, the slow line is back to negative territory and setting up for a
"First Cross" sell signal.
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