Cobra wrote:overshot, negative divergence, so might not break through this time?
Divergence don't matter if you're in a strong trend. Correct?
Need a combination of resistance plus divergence to pick a top.
yes, I combine with pattern too. Of course I know divergence doesn't matter.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Al_Dente wrote:scalpers exit....bears take over....i see a yacht
hmm, I was wondering who too my yacht!
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
well, guess that's it for today, very strong close, feels more high ahead. thank you guys, I'll see you the next Monday.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
I closed my SPXU position that I opened at market open today. I have watched Sunday night futures ramps for all of 2 years now.
No need to fight the tape. If we don't break down at all over the next 1-2 weeks, I will have to revise my probability of a visit back to 1360s highs. Certainly NAAIM screams out short squeeze can continue, and short interest is still high, albeit off the highest point. 200 day moving average is only a stones throw away now. Impressive counter-trend rally so far.