As you can see, the negative divergence on the 5 min SPX chart
is playing out. But also remember, the SPX stopped right at
1100 today, which is a round number and was the 50% Fib
retracement! so there should be no surprises here, plus this was
pointed out earlier, the divergence, 1100 area, and 60 period
stochastic
In addition the 144 Stochastics hardly broke through the 50
level on the 15 min chart. I kind of recall that you (Matt)
mentioned that we should look out for resistance there in the
pre-trading day news-letter, one more piece to the puzzle.
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5 min SPX divergene playing out
Posted by matt on 17th of Aug 2010 at 03:49 pm
As you can see, the negative divergence on the 5 min SPX chart is playing out. But also remember, the SPX stopped right at 1100 today, which is a round number and was the 50% Fib retracement! so there should be no surprises here, plus this was pointed out earlier, the divergence, 1100 area, and 60 period stochastic
In addition the 144 Stochastics
Posted by etcbari on 18th of Aug 2010 at 09:00 am
In addition the 144 Stochastics hardly broke through the 50 level on the 15 min chart. I kind of recall that you (Matt) mentioned that we should look out for resistance there in the pre-trading day news-letter, one more piece to the puzzle.