Here's a 30 min SPX chart with simple Bollinger Bands, which are
tight as hell now. Based on the MACD recycled to zero, etc,
just based on the chart (disregarding the Jobs data tomorrow),
I wouldn't doubt if the market popped up in the morning.
However the next high will be quite divergent and take a look
at that 60 period stochastic, watch that 80% level; because as you
can see, the 60 period stochastics has been working quite well
lately crossing above 20% for buy signals and below 80% for sell
signals.
Matt, if past two months are any guide, MACD should form a
higher low after stochastics have crossed. Are their any
confirmations or positive divergences of a move above 1130 at that
chart? Purely technically speaking.
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Market Comments
Posted by matt on 4th of Mar 2010 at 06:09 pm
Here's a 30 min SPX chart with simple Bollinger Bands, which are tight as hell now. Based on the MACD recycled to zero, etc, just based on the chart (disregarding the Jobs data tomorrow), I wouldn't doubt if the market popped up in the morning. However the next high will be quite divergent and take a look at that 60 period stochastic, watch that 80% level; because as you can see, the 60 period stochastics has been working quite well lately crossing above 20% for buy signals and below 80% for sell signals.
Matt, if past two months
Posted by junkie on 4th of Mar 2010 at 06:20 pm
Matt, if past two months are any guide, MACD should form a higher low after stochastics have crossed. Are their any confirmations or positive divergences of a move above 1130 at that chart? Purely technically speaking.