SPX/SPY is getting quite compressed (steep wedge) and there is
some divergence now on 60 minute chart but we have yet to see a
break in structure (still lower highs). Also, noteworthy is
the SPX daily RSI is now in an oversold region which rarely fails
to provide some type of bounce. Also have 5 days down (could
extend but odds favoring a bounce soon just need a trigger).
OPEX tomorrow.
we both would like to see that gap filled on the SPX charts we
have shown, honestly a gap down to fill that gap then recovered
would probably be a good trade low for now, but I want to fill that
gap. about 27 points down on the cash SPX would fill that gap
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SPX/SPY is getting quite compressed
CCI Divergence may trigger long on ES futures for mean reversion
Posted by steve on 18th of Apr 2024 at 05:58 pm
SPX/SPY is getting quite compressed (steep wedge) and there is some divergence now on 60 minute chart but we have yet to see a break in structure (still lower highs). Also, noteworthy is the SPX daily RSI is now in an oversold region which rarely fails to provide some type of bounce. Also have 5 days down (could extend but odds favoring a bounce soon just need a trigger). OPEX tomorrow.
we both would like to
Posted by matt on 18th of Apr 2024 at 08:09 pm
we both would like to see that gap filled on the SPX charts we have shown, honestly a gap down to fill that gap then recovered would probably be a good trade low for now, but I want to fill that gap. about 27 points down on the cash SPX would fill that gap