A potential divergence on the horozion although not confirmed
A great indicator to spot divergence is the WAVE TREND by Lazybear.
Although not yet confirmed is displaying a clear divergence between the august peak 2023 and the current peak.
Similar divergence between June and October that took 111 days to complete lead to the the rally that has achieved over 28%.
If this divergence is confirmed we will all but wait and see what kind of correction this just might lead to.
Also a potential reversal signal that is displayed in the SPX yesterday was it printing a long legged doji. However representing indecision between buyers and seller it did end up posting a bearish body. In which means sellers did take the lead.
This also suggest that a substantial move is about to ensue and mixing indicators as such to get a sense of direction that the move will proceed in can give clarity over the direction.
These candles are quiet rare and after such a substantial move a reversal might be catastrophic for markets.
Although not yet confirmed is displaying a clear divergence between the august peak 2023 and the current peak.
Similar divergence between June and October that took 111 days to complete lead to the the rally that has achieved over 28%.
If this divergence is confirmed we will all but wait and see what kind of correction this just might lead to.
Also a potential reversal signal that is displayed in the SPX yesterday was it printing a long legged doji. However representing indecision between buyers and seller it did end up posting a bearish body. In which means sellers did take the lead.
This also suggest that a substantial move is about to ensue and mixing indicators as such to get a sense of direction that the move will proceed in can give clarity over the direction.
These candles are quiet rare and after such a substantial move a reversal might be catastrophic for markets.
The ranges represent a figure calculated using the VIX form the start of the month suspect an area in which the SPX will end up in by the end of the month.
the smaller area has a 68% chance and the wider area has a 98% chance. Which leaves little wriggle room for the move to head further.