Market moves into a Warning phase but contained its drift lower, and just held above the Buy Signal line into the close.
T volume oscillator turns negative and the Osc oscillator looks close to a sell signal, indicative of the slowing momentum.
Starting to build a descending resistance line, and reinforcing the apparent double top, for now.
The prescence of a short term peak at the significant arm of the Amalgamation DB (Double Bottom) T structure leads me to believe that it is the Primary Structure and that the T structure drawn at the 13 April low is now secondary and projects echo lows rather than highs.
This means that we should see a significant lack of buying power at the end of the Amalgamation DB structure which only projects as far as 18 and 23 May. I believe that we will then be looking for a new low or series of lows to define a new T structure.
Be prepared for whatever comes next:
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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.