Two key indications on the long-term SPX weekly chart to watch.
First, there is a clear divergence between the price and the RSI... a bearish signal
Also, the ADX, which measures internal trend momentum, has been falling as the price was rising. So, no momentum for the bullish move was building on the rise. This is a signal to stall out.
Both of these together could be a precursor to a nice dump.
Thoughts?
First, there is a clear divergence between the price and the RSI... a bearish signal
Also, the ADX, which measures internal trend momentum, has been falling as the price was rising. So, no momentum for the bullish move was building on the rise. This is a signal to stall out.
Both of these together could be a precursor to a nice dump.
Thoughts?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.