S&P 500 Three Crows, Dragonfly, and a lot of Divergence.
We begin on the three day chart and we see a clear three crows candlestick formation and this occurs with all the bearish divergence marked with arrows on the MACD, RSI, and Stoch RSI. Based on that alone we should be looking to the downside, not even counting all the repo market, dollar, silver and gold, and trade war stuff. Once you consider all of the fundamentals, the downside potential should be screaming at you.
The 3 month chart is even more foreboding, with our elegantly perched dragon fly and the indicators suggesting the price action is going straight to hell. Prior to the great dump of 2008 we had a hanging man on the 3 month chart and now we shall see how predictive this dragonfly will be.
The six month chart is also interesting. The MACD histogram is flat, we are pulling away from the bollinger band, and the RSI looks like hell, again. Ultimately I think we are going to test the lower limit of the bollinger band, and perhaps the 3 st. dev bollinger band. Terrifying to contemplate.
The 3 month chart is even more foreboding, with our elegantly perched dragon fly and the indicators suggesting the price action is going straight to hell. Prior to the great dump of 2008 we had a hanging man on the 3 month chart and now we shall see how predictive this dragonfly will be.
Commentaire:
Gotta say I am pretty happy with how the post was in the short term. On the daily chart we gapped down and we are completely below the Bollinger Bands, using the standard settings. Very probable we will fill that gap shortly before going back down but clearly the momentum is downward.
Commentaire:
And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?
~Nathan Explosion
~Nathan Explosion