Daily - bearish divergence between price & MACD line, (higher price peak, lower MACD momentum peak).
Sell confirmation if the MACD center line is breached.
Weekly - like '02/'03, 950 provides solid resistance, (a neckline?).
A head & shoulders reversal pattern, ie a retest of 750-800, (a rough 50-62% Fibonacci retracement of the recent rally), looks to be the least painfull way the SPX will extracate itself from it's lows.
But will it chew up enough time/investors? A double bottom if not, fingers crossed.
Monthly - a bullish MACD signal line cross & a downtrend cross did the trick in '03 so I'd like to see a repeat as confirmation of reversal.
IMO, DYOR
Regards
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Last
26,683 |
Change
82.730(0.31%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 26,683 | 0.00 | 0.00 |