Mild RSI/MACD divergence on the 2D chart -- may break thru! Looking at the candles going back a few months, we've got a nice broadening ascending wedge (watch for H&S formations). Flirting with a double-top right now. I'm content to sit back and wait for a solid re-entry somewhere along the lower support line or we reach another over-sold zone. Thinning some long positions that look overextended 300 days to present. While the index is prodding away, we're still riding many bearish patterns in the basket of stocks.
Note
Patiently waiting...Note
Looking for a sharp rejection of $391.30 tomorrow. Might make for an interesting (and brief) short entry: Note
*Yawn* Another ranging week. *Taps foot to speed up the price action of the market* Nothing says BUY BUY BUY. A few bounces here and there for quick intraday profits, but nothing I want to stick in the vault and hold.
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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.