One additional note - I see a pattern on weekly of it taken 3-4
months to swing from top to bottom on crossovers. If this
same pattern plays out we could just go sideways for awhile.
I agree the daily has all signals pointing higher currently and
weekly are pointing still lower HOWEVER its signals MACD (Above
Zero) and RSI are showing begining stages of Poss. Div (Very Weak
but its there). If you also notice the Oct. weekly cross
over on STO was higher then July's. If we turn soon then
uptrend line on weekly has held. If we lose those then for
sure its heading south.
What concerns me is we have a cross up back in July from
below 20 and got like 100-150 SPX points then turned down. Then in
Oct. Same Pattern occured and we got about 125-200 SPX points.
This pattern I believe lines up with Steve's pattern that
SPX could only rally a few 100 pts at most from current levels.
IMHO
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Daily/Weekly 5 / 3 / 3 Crossover
strange divergences
Posted by cspirit on 26th of Jan 2009 at 09:34 pm
Here's the Weekly vs Daily charts.
Weekly- 6 month snap shot
http://stockcharts.com/h-sc/ui
Daily - 10 month snap shot
http://stockcharts.com/h-sc/ui
One additional note - I see a pattern on weekly of it taken 3-4 months to swing from top to bottom on crossovers. If this same pattern plays out we could just go sideways for awhile.
I agree the daily has all signals pointing higher currently and weekly are pointing still lower HOWEVER its signals MACD (Above Zero) and RSI are showing begining stages of Poss. Div (Very Weak but its there). If you also notice the Oct. weekly cross over on STO was higher then July's. If we turn soon then uptrend line on weekly has held. If we lose those then for sure its heading south.
What concerns me is we have a cross up back in July from below 20 and got like 100-150 SPX points then turned down. Then in Oct. Same Pattern occured and we got about 125-200 SPX points.
This pattern I believe lines up with Steve's pattern that SPX could only rally a few 100 pts at most from current levels. IMHO