Looks like a few things occurred today. I couldn't get access to total volume for the day but the down candle sure looks like it confirmed the shooting star.
In fact, today's candle may be considered a bearish engulfing candle? It is very close to completely engulfing yesterday's candle. It is off by .2 points to completely engulf.
SPX still could not close above 1100. A double top also appears to be forming.
Notice the MACD histograms once again. Today I have included both pivots labeled in red and green. Red indicating a cross down is about to occur and green indicating a cross up about to occur.
Today a lower histogram was printed after yesterday's peak. Could this be signaling another cross to the downside?
Obviously there are no guarantees here but this pattern has held up nicely since August with the exception of the one histogram that dipped on 10/29. Even with that little hiccup, the pattern ended up playing out as anticipated.
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