The SPX could complete wave "C" of a developing Elliott wave Horizontal triangle on 10/25/16.
Wave "c" of "C" appears to be forming an Ending Diagonal Triangle. Resistance could come at the convergence of the rising and falling trend lines.
Also today 10/24/16 the NDX made an all-time high that was unconfirmed by every US main and secondary stock index. It was also unconfirmed by all nine SPDR sector funds. No major international stock index confirmed the NDX high.
The NDX recorded a triple bearish divergence vs. the Nasdaq new 52 week highs.
The NDX all-time high could be the most outrageous non-confirmation in the history of the US stock market.
Mark
Wave "c" of "C" appears to be forming an Ending Diagonal Triangle. Resistance could come at the convergence of the rising and falling trend lines.
Also today 10/24/16 the NDX made an all-time high that was unconfirmed by every US main and secondary stock index. It was also unconfirmed by all nine SPDR sector funds. No major international stock index confirmed the NDX high.
The NDX recorded a triple bearish divergence vs. the Nasdaq new 52 week highs.
The NDX all-time high could be the most outrageous non-confirmation in the history of the US stock market.
Mark
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.