some asked me for a collection of some of those Breadth
indicators I commented on below that have a divergence - not making
new lows like the indexes were at so here's the URLs
I didn't post those for timing purposes - they are simply
diverging and price could still make another low and fill that gap
on the SPX and those divergences would still be in place
SPX bounced off support (prior low area) and I simply
illustrated a potential FLAT which if true would argue for a move
back up to the box around 4300 in the coming days but will have to
clear resistance zones along the way which I POSTED EARLIER.
Any move back down that takes out lows would negate. You must
get in the habit of buying support and selling resistance NOT
chasing if trading. If longer term - trade your
plan
Here's a collection of some of those breadth indicators
Posted by matt on 6th of May 2022 at 11:15 am
some asked me for a collection of some of those Breadth indicators I commented on below that have a divergence - not making new lows like the indexes were at so here's the URLs
!VMCSUMNAS - Chart Link
!MCOSIRDOW - Chart Link
!MCOSIRSPX - Chart Link
$COMPQ - Chart Link
$NYMO - Chart Link
$SPX - Chart Link
I am a little confused
Posted by arun on 6th of May 2022 at 11:25 am
I am a little confused here Matt and Steve. Would you say this is a short/intermediate term bottom based on this ?
I didn't post those for
Posted by matt on 6th of May 2022 at 11:36 am
I didn't post those for timing purposes - they are simply diverging and price could still make another low and fill that gap on the SPX and those divergences would still be in place
SPX bounced off support (prior
Posted by steve on 6th of May 2022 at 11:28 am
SPX bounced off support (prior low area) and I simply illustrated a potential FLAT which if true would argue for a move back up to the box around 4300 in the coming days but will have to clear resistance zones along the way which I POSTED EARLIER. Any move back down that takes out lows would negate. You must get in the habit of buying support and selling resistance NOT chasing if trading. If longer term - trade your plan
Appreciate your input Steve -
Posted by arun on 6th of May 2022 at 11:36 am
Appreciate your input Steve - yes I'm talking longer term. And I see posts from others too. Very helpful posts from this community. Thanks all