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