FN: Compare the two charts. The first is from 06/15/09 and the second from 06/22/09.
From the original post Transports Diverge:
"TRAN was down on Friday when the broader markets "broke out higher" intraday.
TRAN didn't even bother to try. This kind of divergence should not be ignored."
It wasn't just the transports... there were many other warning signs as well. The financials for example had already rolled over and the Charts Say "Decision Time" Update2.
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3 comments:
Hi,
My 2 cents.
Spx close below 935 = 895.10(+2.06)
Between range that I predict to very short term.
Below 908 I expect [880,893] very short term.
Below 935 I expect [790,820] medium term.
Remember two possibles scenarios:
Dont`t break range [880,893] and we will see pullback again target expect between [935,921].
Break range [880,893] and we will see soon 850.
If spx close hourly above 908 I have to reduce some shorts.
Tomorrow resistance Hourly 908,900. Macd near to invert again but have to confirm with a close above 908.
Wednesday’s Economic Data
8:30 a.m. May Durable Goods Orders
10:00 a.m. May New Home Sales
2 p.m. FOMC Meeting
Click to zoom in.
http://followmarketrend.blogspot.com/2009/06/spx-update-daily-and-hourly_23.html
I expect SPX 888 to hold. It was successfully tested.
The evil-doers like to play games with their power numbers, like 666 and 888.
Nice post! Can’t wait for the next one. Keep stuff like this coming.
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