The Bollinger chart is on the left and the Wilder chart is on the right. The Bollinger chart shows bullish divergence between price and %B which is confirmed by AD%. See the yellow bars. AD% is a normalized accumulation/distribution indicator. Price has also created a double bottom and closed above the 20-day moving average, triggering a long entry.
The Wilder chart shows bullish RSI divergence with a failure swing (higher low and higher high), as indicated by the yellow bars. ADX is threatening a crossover but has yet to achieve one. The parabolic SAR has triggered a long entry. The two lower indicators are not Wilder indicators, but both are showing bullish divergence.
Note: a 50% retrace was accomplished last week.
I went long two micros after the bell with a stop below the day’s low. I’ll consider closing the trade in part or in full near the 9-week moving average which is near the high from a couple weeks ago at 378.50.
SPY closed at 371.13 today and is currently up after hours as of this writing at 8:27pm EST.
The Wilder chart shows bullish RSI divergence with a failure swing (higher low and higher high), as indicated by the yellow bars. ADX is threatening a crossover but has yet to achieve one. The parabolic SAR has triggered a long entry. The two lower indicators are not Wilder indicators, but both are showing bullish divergence.
Note: a 50% retrace was accomplished last week.
I went long two micros after the bell with a stop below the day’s low. I’ll consider closing the trade in part or in full near the 9-week moving average which is near the high from a couple weeks ago at 378.50.
SPY closed at 371.13 today and is currently up after hours as of this writing at 8:27pm EST.
Trade closed: stop reached