As we approach new all time highs
As we approach new all time highs in the US stock market (roughly only 1.5% away), I am personally keeping a weather eye on the chart below. Tonight is the state of the union address and the euphoria surrounding the president’s announcements will probably push the markets into the stratosphere. However, if for some crazy reason the monthly chart prints a red candle at the end of this month, the indicator in the chart below will probably print a crossover with pretty heavy negative divergence.
WHat is this RVGI? …. starting to deep dive… I like what I read.. based on opens and closes.. and not closes and lows…
“…
The RVI indicator is calculated in a similar fashion to the stochastics oscillator but it compares the close relative to the open rather than comparing the close relative to the low
…”
https://www.investopedia.com/terms/r/relative_vigor_index.asp
BIG TECH (QQQ) is already at new All Time Highs today
Jim, Negative Divergences feed Parabolas.
To successfully play a parabola, one must throw TA temporarily out the window.
I think we need a bigger correction before we melt up parabola style… so I like a strong down month… get everybody off guard… then rocket off. The current correction felt very light.
Not needed! There are SMALL corrections in parabolas.
Alright then! Up Up and away!