this is why I think this rally has topped for the time being. Comments would be appreciated.
spy chart
- Thread starter santosLhalper
- Start date
looks more like a small pullback to me
what are your thoughts on the negative divergence above the tops on every indicator?
and the breakaway gap. And the historically overbought conditions on the put/call ratio and McClellan Oscillator.? And the vix breakout?
You're overthinking it. The market has been rising steady since dec 23rd and we finally have one solid downday on average volume. It's little more than a pullback.
can you back up your statements with a chart? I only care about the chart.
You are wasting your time trying to get useful information out of Stock Turder.
at the very least you have to believe we test the bottom trendline. I expect a small rebound off of it and then a pitch over. Also, look at how we spun 2 tops on the upper bollinger, the second one on higher than average volume, followed by a breakaway gap down. Seems like the end of the rally to me.
i forgot to post the chart.
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Some people think as GM goes ,so goes the market;
but GM hasnt even cleared its 50dma yet,but close.
SPY is still above its 50 dma;
Santos helper-your bottom trendline of $88 is close enought to that.
If it dips below that, it could sink like SAY , SATYAM;
like an Indian elephant that sat on a yam.
