Nice shooting star candle on SPY today.Iam taking this as a signal based on 240 degrees/240 points from 1266 low.Invalidation if it closes above today's high.
Interestingly,on DIA the shooting star signal came last Thursday.
The Dax took out 3 week lows,so a stronger signal ? We also got our sell signal on Dax from 3 and 10 dema cross,this hasn't happened on Spy
Interestingly,on DIA the shooting star signal came last Thursday.
The Dax took out 3 week lows,so a stronger signal ? We also got our sell signal on Dax from 3 and 10 dema cross,this hasn't happened on Spy
FEB 5 is 377 TDs from 3.6.09 low. Fib ramifications.
ReplyDeleteThanks David,interesting
DeleteMy momentum indicator system also generated a daily sell on the SPY last Thursday, and Friday's spike higher almost up to tag the upper Boll, was not confirmed and in fact left very short term Class A bearish divergences on the chart. Friday's candle may also be viewed as an island, with Friday's open being a great stop loss for very aggressive shorts (there are other obvious stop levels for longer term swing traders, etc.). In any event, the weekly still looks very strong, and as such, we're probably looking at a very short term spike lower . . . for now . . . Europe has some indices already on momentum WEEKLY sells from last week.
ReplyDeleteHow about this? Sell signals on something higher than intraday time frames! How long has it been?!?!
Yep,all yin and no yang,algo-driven market lately !
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