Warning on SnP 500: Negative Divergence in Play
3 Degrees of negative divergence on the ES (SnP 500 Futures) on the weekly time frame IS TO BE TAKEN SERIOUSLY!.
This suggest the trend up is getting weaker and weaker.
I would be looking to get out of any long, long-term positions on most instruments.
This suggest the trend up is getting weaker and weaker.
I would be looking to get out of any long, long-term positions on most instruments.
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It seems like there will be NO fourth degree divergence and this starts a long correction. 2022 looks like it will be an "interesting" year. Good luck everyone.
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Nothing indicates to buy. The weekly is on sell until further notice. This might be a while.
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I think I get a cookie!
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This chart was golden and aged beautifully. I do get a cookie.
The head and shoulders topping pattern on NQ suggests it doesn't reach an all time higher high. We will see. And will give this room to do its thing with no positions.