[Follow up] $SPX analysis of 2 wk Williams %R indicator
Back on June 1st, I posted a chart noting the similarities of the two most recent periods of long and deep sideways price ranges and the behavior of the Williams %R indicator on a two week period.
The chart above is a look at where this comparison is presently...
In 2012 and 2016, price broke out to new highs then pulled back making what looked to be failed breakouts... Then institutional buyers stepped in and price reversed and continued higher from their ranges. Both times the Williams %R indicator had fallen below -50 before turning back up.
Watching to see what happens in the next few weeks.
Not a forecast. Remain flexible and open to all possibilities...
https://www.tradingview.com/chart/SPX/JI1sDV1Z-SPX-analysis-using-2-wk-Williams-R-indicator-vs-past-scenarios/
The chart above is a look at where this comparison is presently...
In 2012 and 2016, price broke out to new highs then pulled back making what looked to be failed breakouts... Then institutional buyers stepped in and price reversed and continued higher from their ranges. Both times the Williams %R indicator had fallen below -50 before turning back up.
Watching to see what happens in the next few weeks.
Not a forecast. Remain flexible and open to all possibilities...
https://www.tradingview.com/chart/SPX/JI1sDV1Z-SPX-analysis-using-2-wk-Williams-R-indicator-vs-past-scenarios/
Related publications
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.
Related publications
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.