The red arrows show the previous negative divergence spank downs. A matching high in price occurred on Friday, this locks in the negative divergence over the last four months. However, due to the overwhelming bull orgy last week, note how the RSI, stochastics and MACD line are eeking out higher highs. This hints that the momo will want to see these price levels again after a smack down occurs due to the negative divergence now in place. Thus, the projection in the right margin forecasts a path forward where the SPX will receive a pull back in the days or week or two ahead, but this couple-week long and strong behavior will want to see price come back up to the current levels, at that time, the indicators should be in universal negative divergence across the four and five month time frames as well as the couple-week time frames, which would result in a much stronger move lower. Note how price highly respects the 20-week MA at 1423.34. 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.
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