As of this morning, the SP500 15 minute chart is showing negative divergence in the MACD indicator. Also, RSI is approaching an overbought condition on the 60 minute chart. It's time to get cautious if you have any long positions.
Finding the top in a rally is the same as finding a bottom when the market sells off - look for divergence. Negative divergence should start showing up in the indicators of intra-day charts and start spreading into longer time frames. When you see this happening it is time to tighten your stops on long trades and to start opening small positions in short trades.
As of this morning, the SP500 15 minute chart is showing negative divergence in the MACD indicator. Also, RSI is approaching an overbought condition on the 60 minute chart. It's time to get cautious if you have any long positions.
As of this morning, the SP500 15 minute chart is showing negative divergence in the MACD indicator. Also, RSI is approaching an overbought condition on the 60 minute chart. It's time to get cautious if you have any long positions.
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http://jackschartpatterns.blogspot.com/2009/03/finding-top-in-rally.html?showComment=1236800160000#c1649046454948564424'> March 11, 2009 at 2:36 PM
what are you thoughts on aapl now?
http://jackschartpatterns.blogspot.com/2009/03/finding-top-in-rally.html?showComment=1236828240000#c8542568741832196422'> March 11, 2009 at 10:24 PM
It used lots of energy on it's rapid climb. I think it may pull back some in search of support. If it drops below the triangle's trend line then it should probably be sold until support is found.