Endgame

A quick speculative (ie very short term) buy above the 2140 resistance level took the market into stronger resistance at 2148.
Failure there and resumption of the Sell Signal at 2137 as the market repeatedly sells into the rallies.
Looks like a 'back-kiss' of the underneath of the rising support lines.

This is the end of the large red T structure as drawn from the T volume oscillator peak on March 4th.

We should see a void of buying power here and then we will be looking for a bottoming pattern in the T volume oscillator and at some point a new T structure to emerge.

Chart of S&P500 for 17 October 2016

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Disclaimer: This is the diary of a personal trading system, its methodology and the signals that it is producing. You are welcome to follow along but please understand that the information presented here is for educational & entertainment purposes only. No recommendations are being made to buy, or sell stocks, options or futures contracts. Please consult your own financial advisor before making any investment decisions.

 

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