The SPX daily chart clearly shows this rolling top in progress with four negative divergence set-ups, each creating a spank down as would be expected. The teal negative divergence formed during Monday's trading, price is now at a higher high and all indicators are sloping down, this will create a spank down now and we will finally see if the bears have any kind of downside juice, or not. Note the lower volume participation as price heads higher and the volume candles show spots of distribution as larger volume sell days follow a few of the up days. The teal lines are set up for the market bears now; starting tomorrow they need to show what they got. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.
You've been calling for spank (now smack) down from neg divergence for the past 2 months. I hope you'r right this time as Im shorting the market as soon as keybot turn long.
ReplyDeleteHello Anon, take a deep breath, let it out slowly. There you go. Now study the chart closer. Each negative divergence top is shown resulting in a spank down. We are at the teal negative divergence now.
ReplyDeleteMarkets are not all or nothing, trends either way have many pull backs of varying percentages. In the days and weeks ahead watch for lower highs and lower lows to form. As long as higher highs and higher lows occur, the bulls continue the upward trend. Thus, the negative divergence should now create another smack down from here, likely today or tomorrow, and watch to see if the 20-day MA fails since that will represent a lower low and potential trend change.
If UTIL stays under 463, Keybot will likely remain short, if UTIL moves above 463 today, Keybot will likely flip to the long side. Anon, you will have to come up with more intelligent comments moving forward, rather than the repetitious uninformed comments, if you are looking for input, otherwise, Keystone will not be able to comment to you again. Study the chart closely.
Exactly KS. This Anon dude never gives any constructive and meaningful criticism. I think dude has some serious emotional issues. On a different note, I'm looking for more positive divergence plays from you KS. I also got SVU and KGC (but traded out of it too early). Take care now.
ReplyDeleteSteve
Hello Steve, Anon is harmless, the comments function can be set to handle things differently but Keystone enjoys any comments especially the ones that voice disagreement, besides, that is all part of the fun.
ReplyDeleteKGC did pop as expected, the long side for markets is worrisome so holding longs is shaky. When/if markets pull back sharply the smaller caps and speculative stocks are hit hard. SVU remains attractive but RSI now slipping, perhaps a bottom in place at this 5.20-5.50 area. The high short interest is pressing hard as shown by the increased selling pressure.
The list on the Positions and Picks page may be helpful espeically if differnet analysis including fundamental analysis is used and identifies one of the stocks listed as attractive since that will increase the liklihood of a bounce for one of the plays listed. The markets are tricky from February thru now until we sort out this potential market top, very dicey action lately.