Hi Valvesound,I always like to note any divergence (red lines...

Hi Valvesound,

I always like to note any divergence (red lines and circles where price is making higher highs but indicators are rending lower) when entering or exiting a stock; for me this shows that price momentum is waning and a pull back could happen.

CDX is divergent on both the 15m and 1hr chart.

Todays price action is playing out with a pullback from he highs and could be supported at .046, but I would be looking for a technical pullback to just under 0.045 (weekly pivot/red bar), which I play as a natural support level. If I touches here and then rebounds I would be happy, otherwise wih no news flow I think this retraces to he low 4's and consolidates

DISC: I do not trade stocks in general and am more a fundamental guy myself - so this is just musing and adding to the TA thread - so disregard as all see fit.

Cheers

Charlie