The markets put in another squeeze today, it's the same rinse and repeat cycle; figure out where the majority of stops are set, gap the market into that level, hit the stops and scare the bears into covering their shorts yet again.
At any rate, there were a lot of decent break-out (short-squeeze) moves today, but the barometer of this market (GS) saw consistent selling. This bellewether of ours ended the day printing a
dark-cloud cover candle pattern on a momentum sell divergence.

The SPY gaped up this morning and bounced off of my resistance pivot (coinciding with the morning's Open) all day long.

Check out the TICK divergences intra-day. I'm now using
Richard Todd's "TICK Molestor," check it out here.

Today on the SPY showed a momentum sell divergence that ended up rolling over

While the Daily is also showing waning momentum while price pushes up on vapors.
2 comments:
I'm glad to see the tick indicator in action. I hope you enjoy it as much as I have. So much better than staring at the tick bars!
You and your indicator rock! Thanks a bunch Richard! Keep up the good work, it is greatly appreciated.
-todd
Post a Comment