Goldtent TA Paradise

SPX

1. Parabolic Chuck says:

   March 8, 2019 - 3:52 pm at 3:52 pm

   Scary

2. Northstar says:

   March 8, 2019 - 3:55 pm at 3:55 pm

   It’s a long way down PC !

3. Curly Top says:

   March 8, 2019 - 6:00 pm at 6:00 pm

   Scary indeed if that resistance line holds. However, this is a possible SPY cycle count that looks ok.

   After the major bottom on 12/24/18, we had a 1st DC ending on 23 Jan (day 19–kinda short, I know.)
   The SPY’s second DC would have begun on Jan 25, peaking on March 4 (day 27) putting us on Day 31 TODAY.

   **IF** that count is right, we could be starting a new equity DC on Monday and likely power right through that resistance line in your post. I sure hope this is correct because I increased my equity holdings at the end of ’18 and still have them.

   http://schrts.co/FcCVZjsv

4. pedro_deleon says:

   March 8, 2019 - 7:37 pm at 7:37 pm

   The 2000 bear and the 2007 bear both had SPX make a higher top on a lower MACD (by a few months).

   I’m not sure that’s any kind of RULE of course.

   But similar MACD rollovers in 2011 and 2015 from peaks … that violated this proposed RULE … never led to a bear market.

   So far, there’s been no recent divergent SPX highs on a lower MACDs. None since 2007 in fact. TWT.

   I posted a ‘survey’ at Pretzel’s last night with FIVE SPX ALTs. Four were ‘bull’ counts; only Taverna (TJ, ET) is on a bear count. Two of the bull counts are 1 of V up done, now 2 p/b. Two others are ‘still in IV’ (Sam triangle c of IV; Krasi in zig zag IV to new lows, then V up. Same with Temple. Eventual new highs would then LIKELY paint those divergences. If you use EW, you can find this public work easily enough aside from Sam.