Monday, November 9, 2009

11/9 - SPX : Histograms


Wow. I go away for a few days and what does the market do?

I'm too tired to count and analyze things right now. It appears many are stumped anyway.

Here's just a simple little chart I have been keeping an eye on. Except for that 1 rouge histogram on 10/30, all others were indicating a change in direction; UP in this case.

Now I'm wondering if the pattern is slowly losing momentum. A new upper trendline (light magenta) may be developing. As MACD heads towards it's descending trendline, will price also cap off at this new trendline near 1120?

Something to keep in mind. Will try to get a count out shortly.

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