Ketchup Market elken(B)readthHey Traders,
Got a little behind in posting some weekly look-backs and wanted to catch-up to this current week. I consolidated the "Weekly RSI Divergence" and the "elken(B)readth" charts into one.
We will be looking back at the week closes using my "blocker" rectangle; the obvious black-out on the right side of the chart. I will post from the start of the year to now (which is ~three weeks from quarter end).
Flour:
Blue is 20 Daily Moving Average
Red is 50 DMA
Yellow 100 DMA
Teal 200 DMA
Crust:
The $SPX is shown in white. We will be focusing on the RSI divergences compared to the white line. The EMA's are there for reference.
Yeast:
Look for RSI divergence on the fast moving (B)readth BLUE line. This can indicate an upcoming change in market direction (and in this market it just might mean FLAT).
Please bear with me as I will try and post the rest of the weeks in update format to this idea to get us all caught up.
