Well, I discern a Double Top in the hourly MACD has turned down, a kiss down (someone said better than sex, in a previous post?) Volume is lower on this move up today versus move yesterday - the two tops momentum oscillator is still above but dwindling rapidly as it approaches zero line High probability market has topped and down again to 815, and lower. Could gap down tomorrow, when SPX options expire at close
It's like they close here on purpose to keep us wondering what will happen next. This is better than any movie or book!
Option expiration week ... do not read too much into the price action in terms of longer term implications Good night everyone!
...and so we did. The after ADU rule got justified when we reached at least the same height as the previous day's HOD. Tommorow we should blow 920 with power because: --we have a the double top (1st Dec 8-9th) with RSI convergence --Thursday T day --ascending triangle on the daily --BB going higher
Here is a backward, hindsight, target call in that I did not even remember making it, or the reasoning as it was occuring. if I did, perhaps I would of taken my last one off at a tick from the high, instead of 4.5 points lower and later.