When night comes down
You lock the door.
The book falls to the floor.
As darkness falls
The waves roll by,
The seasons change
The wind is wry.
Now wakes the hour
Now sleeps the swan
Behold the dream
The dream is gone.
Green fields are calling
It's falling, in a golden door.
Pink Floyd, A Pillow of Winds, 1971, from Meddle
(Roger Waters, David Gilmour)
…
An about turn as the market finds price unsustainable at the upper extreme of the channel and profit-taking becomes strong selling.
Price moves below the Cover Signal level at 2825 and the T volume oscillator drops significantly below the important zero level.
A strong upward move followed by a collapse in price and breadth is characteristic of the end of a T structure and this has occurred just prior to an important projection for a high relative to the all time high in September 2018.
We should expect to see price look for a low or series of lows, and stabilize prior to the next advance.
We await the next signal.
Be prepared for whatever is coming next, and trade with confidence:
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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 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.