SPX
*enlarge this image to see it fully
- I shrunk down the yellow gap zone accommodate the past two attempts to fully break into it (2745-2753) it is just slightly smaller
- There is a 12 period EMA to show how closely price is moving along with the moving average
- Potential for a series of lower highs since June 14th
As I type this the SPX is only up 0.77% and 21 points so far for the day. Yet the market on a smaller time frame is couched between two decisions: Fade the gap (imbalance) or finish rallying to the origin of the sell off at 2750-53.
This last chart here shows more distributive action, where its becoming more clear that the rallies are being sold with greater force: its written in the tape!
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