czdubs5377

czdubs5377

I posted a couple months ago about the SPX struggling against the 20 month average resistance curve, after another rally, it looks like the 20 month stopped it dead in its tracks. If you invert the chart, you’ll see a That price has a made a classic flag, with “support” found on the red 20 month moving average. This is a trend continuation pattern, and the trend...

czdubs5377

So we’ve had a falling wedge forming over the course of 2 years. We’ve broken above that Then we got a short term bullish megaphone, and we are now above that We held the 20 week moving average which has always led to huge rallies, at least in the short term, some of those rallies became full on parabolic growth, but others were on the disappointing side...

czdubs5377

here’s the case for a bullish scenario 1. RSI and MACD downtrends have broken on the weekly 2. Strong rejection from the bulls at the 20 week MA and 200 day MA. Most of the time, finding support at the 20 week moving average leads to a bull run, with only a few failures 3. Golden cross on the daily time frame, we still have no historical data on what a death...

czdubs5377

The big winter rally may be coming to an end. Strong rejection of the 20 month moving average after a second try at getting above it. I believe we will knock out the previous low and head toward 3250 where strong support is located.

czdubs5377

We’re in tricky waters right now. We have a long term bullish divergence in price action indicating a relief rally is upon us, at the same time there are substantial bears in the market hanging out around the 0.000015 supply zone that have been down badly on their investment for over a year now still looking for a gracious exit out of the market. Short term, we...

czdubs5377

This is a type of divergence most people don’t seem to notice, and it also can be difficult to spot. On a downtrend, you’re typically looking for a lower low in price but a higher low in the oscillator. That is the bullish divergence indicating a reversal is near. Typically traders will not be looking at the highs of the oscillator during a downtrend. Here we see...