SPX Weekly Chart Overbot Rising Wedge Negative Divergence

Keystone usually posts the weekly chart once per week. We have watched the negative divergence set up as price floats higher. This is a very pretty, and negative, chart. The red rising wedge is textbook. Each pull back is created by negative divergence smack downs. Each top occurs with overbot conditions in the stochastics and overbot or near overbot RSI and money flow. The pesky action lately provides some short term momo (short green lines) for the indicators so a sideways move for three weeks is easily doable (like prior tops) but a roll over is at the doorstep. The Energizer Bunny keeps motoring higher but the chart says down and considering the rising wedge, the down should be substantial. The action this week thus far prints a doji candlestick which hints at a trend change. Projection is a roll over to occur with the SPX moving back into the 1300's by the time the Easter Bunny comes to town. That would be just as spectacular as the 150-handle ride up since mid-November, a 150-handle ride back down. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here.  Consult your financial advisor before making any investment decision.

Tweet

Terimakasih anda telah membaca artikel tentang SPX Weekly Chart Overbot Rising Wedge Negative Divergence. Jika ingin menduplikasi artikel ini diharapkan anda untuk mencantumkan link https://lifeonbtc.blogspot.com/2013/01/spx-weekly-chart-overbot-rising-wedge.html. Terimakasih atas perhatiannya.