WEEKLY still BULLISH. Although PRICE fell below RED averages the W%R stayed above MID-POINT. I've added a 100 MA to this system to give a better view of the long term trend.
The SPY weekly trend is still BULLISH. I'll be watching the FISHER's next move to see if it DIVERGES from price.
WAIT for PULL BACK near W%R MID-POINT then look for a BIG GREEN candle
Contrary to popular textbook definition, Head and Shoulder patterns do not have to be perfect. To me they are nothing more then a TRIPLE TOP or BOTTOM with a higher high or lower low accompanied (most of the time) by DIVERGENCES and the falling / rising of THE GREAT FISHER.
CAREFUL WITH THIS ONE FOLKS. HEAD & SHOULDER PATTERN WITH MULTIPLE DIVERGENCES. OFFICIAL SHORT BELOW THE @ the 200 SMA and or THE GREAT FISHER 144 below MID POINT
Profit taking and neutral on Google.Official short if W%R falls below midpoint
........reminder.........when entering long position,make sure to take profit at overbought stochastics
........a slight improvement Added a stochastic to better gauge when to take profit
A good example of 3 very different indicators alignment. Below MA,a HUGE money flow DIVERGENCE and oversold stochastic. 1.long term MA for trend 2.MONEY FLOW for supply /demand 3 STOCHASTIC for short term overbought / oversold Attention beginners: don't put 3 indicators on your charts that convey the same thing
DIVERGENCE followed by price above all averages and W%R above mid point