Here’s my prob:
Lower low smalls price
But positive divergence on momentum (top panel)
That can be cured soon with a stronger momentum down
Otherwise it suggests a bounce is coming, soon, but could be 1+ days
[ps: below the SPX chart, u can’t see it here, is a similar pos diverge]
15m
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
IWM rebound has been the strongest, nearly went green, and is solidly above the 15min 20ema. SPY has been rejected several times at that level, QQQ is right AT it, as I post this.
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Now we know it's a range day instead of a downtrend day. The question is where is the range high? My guess is probably not far if not already in because I see 3 push up now (red arrows).
By the way, another example is you have to guess to short (earlier), it's usually too late to short when the trend is clear, at least don't trust the breakdown which makes short more difficult because it means no short and hold therefore no good risk reward.
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Al_Dente wrote:NY declining stocks = 1.9 x advancing stocks
NY declining volume = 2.2 x advancing volume
BEAR
These numbers need to stay above 1.7 and get stronger, for bear to continue
NY declining stocks = 1.6 x advancing stocks (no, no, no, that means narrow-based selling…)
NY declining volume = 2.3 x advancing volume (… on healthy red volume)
NY declining stocks = 1.5 x advancing stocks
NY declining volume = 1.1 x advancing volume
bears gave it back............... AGAIN............
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.