For example, yesterday after the close I said that I thought
today we would get a pop because the MACD had recycled back to zero
and the BB's were tight. So basically the same thing happened
today on the 5 min SPX this afternoon before it popped. Here's the
old SPX 30 min from yesterday and the new one today
From
yesterdayHere'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.
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For example, yesterday after the
5 min SPX charts
Posted by matt on 5th of Mar 2010 at 03:00 pm
For example, yesterday after the close I said that I thought today we would get a pop because the MACD had recycled back to zero and the BB's were tight. So basically the same thing happened today on the 5 min SPX this afternoon before it popped. Here's the old SPX 30 min from yesterday and the new one today
From yesterdayHere'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.