4 replies to this topic

[spielchekr]

My assessment is that the bulls can begin to form a bottom only if price progresses above the 23.6% trend level that it is currently at. To see if/when/how that begins to take shape, here's a live $SPX 20ma chart to follow along:

http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=7&dy=0&i=p01779016303&a=130218860&r=2585.png

[spielchekr]

Appropriately, price can currently be found just a shade below the 23.6% Fib retracement, same as the par-trend momentum.

[mss]

You do such nice work. Thanks for sharing. mss

[spielchekr]

Thanks, MSS. I've updated the annotations on that live chart to point out the nearest window of opportunity for creating a positive MACD divergence. We need to close either Tuesday or Wednesday at or above the 76.4% retracement for a "respectable-looking" positive MACD divergence to occur. There, I've saved all of the market participants from having to spend money to see what happens with a test higher! Now it just needs to decide if it's ready for putting in a positive divergence or not.

[spielchekr]

61.8% momo is a real bull teaser.