9.2.20 We had a high of 3588.11 today we closed at 3585.14 to form a double top (yet to be confirmed).
If this isn't a double top, not only will I lose a lot come Monday, but it would be an extraordinary turn of events on the market. I hope I'm wrong for the sake of a majority of investors, but there are so many indicators that scream "TOP".
Lower Volume as the market climbed this week.
Stocks trading above their 50 day is at 84% which is within 1% of 7 of the last 14 market tops.
Stoch RSI is a week into overbought territory.
Divergence up to 64.
MACD higher than it was in February.
On the weekly the MACD and Stoch RSI are almost identical to Feb. 18th.
A Hangman candle on the weekly chart.
The icing on the cake is the psychology. AAII sentiment spiked to a 15 year high! Ultimate contrarian indicator.
Even the put/call ratio is at a peak position.
I don't share much on here, but I don't usually have a lot to say. If you took the time to read this and you got something/anything out of it, shoot me a thumbs up and I'll continue to share as things come up. Not a lot of thumbs and I'll simply keep to myself.
I went 20% short at close today so I'd tell you to invest at your own risk, but in this case it's at my own risk LOL
If this isn't a double top, not only will I lose a lot come Monday, but it would be an extraordinary turn of events on the market. I hope I'm wrong for the sake of a majority of investors, but there are so many indicators that scream "TOP".
Lower Volume as the market climbed this week.
Stocks trading above their 50 day is at 84% which is within 1% of 7 of the last 14 market tops.
Stoch RSI is a week into overbought territory.
Divergence up to 64.
MACD higher than it was in February.
On the weekly the MACD and Stoch RSI are almost identical to Feb. 18th.
A Hangman candle on the weekly chart.
The icing on the cake is the psychology. AAII sentiment spiked to a 15 year high! Ultimate contrarian indicator.
Even the put/call ratio is at a peak position.
I don't share much on here, but I don't usually have a lot to say. If you took the time to read this and you got something/anything out of it, shoot me a thumbs up and I'll continue to share as things come up. Not a lot of thumbs and I'll simply keep to myself.
I went 20% short at close today so I'd tell you to invest at your own risk, but in this case it's at my own risk LOL
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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.