Massive Weekly Divergence in SP-500

Discussion in 'Technical Analysis' started by Rickshaw Man, Jul 28, 2005.

  1. Are we setting up for a big fall? who cares? bulls have taken over, new highs on the way. Everything is roses on wall street.
  2. Bowgett


    We will find out this fall :)
  3. mhashe


    Tomorrow action will be key. Lots of indicies testing new highs.
  4. Bowgett


    Are you kidding right? He is talking about weekly chart. One day means nothing.
  5. tomorrow will not be an up day......theres not enough juice behind todays action....thats how i see shorting FORM and maybe just maybe long C as a hedge.
  6. toc


    Divergence it is but a reverse one..........meaning indicator will break out and catch upto the price. Sit relaxed for NASDAQ 2300 levels.
  7. gemini19


    I'm guessing short term DJIA moves to 10773, a .786 Fib retrace of Mar 7 to Apr 20 decline, then we move lower imo

    I wouldn't be too bearish until 10250 is crossed on the downside on heavy vol.

    Anyone taking notice to Gold? creeping up here, looking ripe for move to 440
  8. That thing could easily break out to upside...but I'm a little wary with VIX being so "low".
  9. Babak


    what is the bottom indicator on your chart?
  10. Looks like the prices have formed a bearish rising wedge. Again, the price action should be the basis of all trading and not forcasts.

    Good trading,
    #10     Jul 28, 2005