from a technical measure, the S&P full stochastics (measured by K 14,3 D 3) have crossed and are pointing lower. The RSI stochastics are curving over, and close to crossing. The MACD ( moving average convergence/divergence) is at 2.9 heading towards the zero line. Breadth is horrible.
Ok, I suspect now that the 20-30 point pullback I was expecting is NOW happening. We are over 20 points down from the high Tuesday. So now we need one more run up to make a higher high, double top, or slightly lower high (which would be a “failed” 5th wave up… called “truncated”)
I think the high is in for the rest of this year Scott (sorry for the late response, I lost internet yesterday).
ES Futures Morning Update November 10th, 2015 – http://screencast.com/t/HrXhC1Ul
from a technical measure, the S&P full stochastics (measured by K 14,3 D 3) have crossed and are pointing lower. The RSI stochastics are curving over, and close to crossing. The MACD ( moving average convergence/divergence) is at 2.9 heading towards the zero line. Breadth is horrible.
SPY Afternoon Update November 6th, 2015 – http://screencast.com/t/Lf5Tnpf8rfoY
ES Morning Update November 6th, 2015 – http://screencast.com/t/mp74zicU
Ok, I suspect now that the 20-30 point pullback I was expecting is NOW happening. We are over 20 points down from the high Tuesday. So now we need one more run up to make a higher high, double top, or slightly lower high (which would be a “failed” 5th wave up… called “truncated”)
ES Morning Update November 5th, 2015 – http://screencast.com/t/PoGSjlzu1
SPX Afternoon Update November 4th, 2015 – http://screencast.com/t/h96Rot1uV
I get the feeling the selling is over for today. Might still go up to 18k+ DOW
ES Morning Update November 4th, 2015 – http://screencast.com/t/Tu9pLsKg